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Valve kills its retail gift card program due to scammers
For years, Valve's physical Steam gift cards have been the closest you could come to buying a Steam game at a brick-and-mortar store. Now, Valve says it is phasing out the production of new retail gift cards, citing a losing battle against scammers exploiting the hard-to-track payment method. PC Guide was among the first to note the end of Valve's retail gift card program, which was quietly announced in a recent update to a Steam support page. Since launching the retail cards in 2012, Valve says it has been fighting a constant battle with scammers, who instruct victims to purchase gift cards and share the pertinent details and security PIN. Those scammers can then resell the gift card details at a discount on grey market sites to effectively launder the funds, creating an anonymous and hard-to-trace form of payment. Valve says it has made various moves to slow scammers, including placing limits on redemption and availability and adding a prominent warning on the cards themselves: "Never share a pin via email, social media or over the phone." Read full article Comments
For years, Valve's physical Steam gift cards have been the closest you could come to buying a Steam game at a brick-and-mortar store. Now, Valve says it is phasing out the production of new retail gift cards, citing a losing battle against scammers exploiting the hard-to-track payment method.
PC Guide was among the first to note the end of Valve's retail gift card program, which was quietly announced in a recent update to a Steam support page. Since launching the retail cards in 2012, Valve says it has been fighting a constant battle with scammers, who instruct victims to purchase gift cards and share the pertinent details and security PIN. Those scammers can then resell the gift card details at a discount on grey market sites to effectively launder the funds, creating an anonymous and hard-to-trace form of payment.
Valve says it has made various moves to slow scammers, including placing limits on redemption and availability and adding a prominent warning on the cards themselves: "Never share a pin via email, social media or over the phone."
Read full article
Comments
PC Guide was among the first to note the end of Valve's retail gift card program, which was quietly announced in a recent update to a Steam support page. Since launching the retail cards in 2012, Valve says it has been fighting a constant battle with scammers, who instruct victims to purchase gift cards and share the pertinent details and security PIN. Those scammers can then resell the gift card details at a discount on grey market sites to effectively launder the funds, creating an anonymous and hard-to-trace form of payment.
Valve says it has made various moves to slow scammers, including placing limits on redemption and availability and adding a prominent warning on the cards themselves: "Never share a pin via email, social media or over the phone."
Read full article
Comments
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