In a bid to counter “scammers” once and for all, Valve has announced that it “will not be restocking” physical Steam gift cards once retailers run out of stock in 2026. The “difficult” decision to discontinue physical Steam gift cards was solely influenced by their use in well-documented scams, as they’ve frequently been used to “take advantage of all people all over the world.”
As spotted by PC Guide, last night on June 9, Valve updated its Steam Support FAQ page to include a new entry dedicated to the discontinuation of Steam gift cards at retailers. “We introduced Steam Gift Cards to retail stores back in 2012, and added the digital program in 2017,” reads the updated FAQ. “Unfortunately, scammers use gift cards from major brands like Steam to take advantage of all people all over the world.”
Valve notes that while it expects Steam gift cards at “all retailers to be out of stock by the end of 2026,” it will be expanding its digital gift cards service to provide “an even better experience.” Likewise, all physical Steam gift cards sold in 2026 can still be used “whenever you choose,” subject to local laws.
Steam gift cards have a long and unfortunately storied use in online scams. As detailed in an investigation by Kotaku in 2023, Steam gift cards are often used in romance scams, as they’re extremely difficult to trace and relatively easy to convert into standard currency. Once a scammer is provided with a Steam gift card code, they sell the key at a loss through a third party, such as eBay or a PC key site.
However, if you ask me, while Valve is framing this decision as an act meant to protect potential victims, I get the feeling that it’s simply sick of having to deal with the headache of refunding those who have been scammed. After all, they don’t just have to refund one person in those situations, as two people technically end up getting scammed once the Steam gift card code has been purchased from the scammer. Sounds like an unnecessary pain in the ass for everyone involved, especially when digital Steam gift cards are far easier to trace on Valve’s end.