Physical Steam gift cards are being ended by Valve because scammers keep using them to trick people

Valve has announced it will stop producing physical Steam gift cards for retail distribution worldwide. Once current inventory runs out—expected by the end of 2026—physical cards will no longer be available, though Valve will continue offering digital gift cards through its store.

The decision stems from persistent scam campaigns exploiting the cards. Scammers use phone calls, emails, texts, or social media messages to trick victims—often impersonating government agencies like the IRS or family members claiming emergency situations—into purchasing gift cards and sharing their codes and PINs. While some users might recognize such schemes, the scams remain effective against vulnerable populations, including elderly people unfamiliar with digital payment methods.

Steam introduced physical gift cards in 2012 as a way to let players fund their accounts and gift money to friends. The company expanded the program in 2017 by adding a digital alternative. Despite efforts to counter fraud—including working with retailers and law enforcement, adding warning messages, and limiting redemption to specific currencies and regions—Valve says “scammers have adapted” to each security measure implemented.

Valve’s decision prioritizes customer safety over retail availability. Physical cards will remain valid and redeemable after the phase-out, ensuring existing cardholders aren’t affected. The company linked to an FTC guide about gift card scams, suggesting this was part of a broader industry recognition of the problem. Digital gift cards, which lack the same physical redemption codes vulnerable to social engineering, will be the sole option going forward for new purchases.

Physical Steam gift cards are being ended by Valve because scammers keep using them to trick people

Sources