Valve discontinues retail Steam gift cards due to scams

Valve is ending its retail Steam gift card program, citing an ongoing battle against scammers who exploit the payment method for illicit activities. The company has struggled for years to combat fraud, where scammers trick victims into buying gift cards and sharing the codes to launder money. Despite implementing warnings and redemption limits, scammers have adapted, forcing Valve's decision. While existing cards can still be redeemed and sold, new production will cease, effectively ending Valve's connection to physical retail. This move acknowledges the significant revenue from physical cards, estimated at $80 million in late 2023, but prioritizes security and operational efficiency over the costly retail channel.