Almost everyone knows them, the credit or gift cards that are often hanging near the checkout in supermarkets or electronics stores and can also be found at gas stations or kiosks. For the popular PC gaming platform Steam, such cards are also available in retail stores. But the Steam cards are set to disappear from shelves and displays.
Valve, the company behind the gaming platform, is phasing out physical gift cards in brick-and-mortar retail. According to reports, existing inventory will still be sold out, but new cards will no longer be shipped to retailers. Valve expects that by the end of 2026, its own cards should be largely gone.
A code is printed on the cards that can be used to load an account with credit equivalent to the purchase price, which can then be used to purchase video games digitally. Anyone who already owns such a Steam gift card or still buys one in a store doesn't need to worry: according to Valve, the purchased credit can still be redeemed. Digital Steam gift cards will also remain available. The elimination purely affects the variant from stores.
Not technology, but fraud
Behind this move is not a technical problem, but a wave of fraud that has been known for years. Steam gift cards are so well-suited for criminals because they can be quickly purchased and easily passed on. Additionally, with such cards it can be difficult to recover lost credit.
This applies to many such gift cards from retail stores; fraudsters often also ask for gift cards from Apple or for Google Play. The principle is remarkably simple: victims are pressured into purchasing a card and revealing the printed code. Once the code is redeemed, the money is usually lost.
Valve points out that it has already fought the misuse in several ways. For example, it works with retailers and law enforcement agencies, points out possible fraud attempts, or removes cards from sale as soon as "unusual activities" are detected. Apparently, that hasn't been enough. The perpetrators have simply adapted to the efforts. "They continue to impact Steam customers and other trusting people. That's why we made the difficult decision to remove Steam gift cards from retail", the company states.
What consumers should watch out for
The U.S. Federal Trade Commission (FTC), other companies like Google or Apple, and also German police warn against precisely this form of fraud. The FTC's rule of thumb: If someone is supposed to pay taxes or fines, allegedly help a family member or friend in an emergency, or solve a supposedly urgent problem quickly and specifically with a gift card, they are almost always dealing with fraudsters.
In one of the most widespread variants of the scheme, perpetrators contact people by phone, email, messenger, through social networks, or through similar channels. They pose as support, authorities, police, technicians, friends, and other agencies or trusted persons. The fraudsters claim there is an urgent case: a locked account, outstanding debts, a due payment... The supposed solution is for the victim to buy gift cards, reveal the code, and pass it on to the fraudster.
There are also other variants circulating. Supposedly romantic online acquaintances ask for gift card codes through dating apps, for example. Another twist is that someone has allegedly won a prize, but first a fee must be paid. That's exactly how the scheme can be quickly recognized. No legitimate company and especially no government agency demands payment with such credit. People should also quickly become alert with fleeting online contacts. A clear alarm signal in many cases is time pressure. If someone is told that an account will be locked very soon, an offer is only valid for a few minutes, or a problem must be solved secretly, they should become suspicious.
Consumers should remain vigilant even with the elimination of Steam gift cards in retail stores. The fraud problem hasn't been eliminated. It's quite possible that criminals who have previously focused on the platform's cards will continue to pull off the same scheme, just with gift cards from other providers.
