Only 10% of purchases on Steam are done with via credit card, paypal, paysafe

[dex3108]

Steam provides 100 Payment methods. Only 10% of purchases are done via credit card, paypal, paysafe. The remaining 90% of purchases are mostly done via cash. Your customers probably don't use credit cards.

Countries like Japan pay for their games that are different than the north american model. Japanese customers prefer to go in store to purchase a voucher. Japanese customers prefer to use cash. So Steam retail cards match the Japanese model for purchasing games.

https://steamdb.info/blog/steam-business-update-at-gdc-2019/

 

[Dreams-Visions]

Pre-Paid cards, then?

 

[dex3108]

Pre-Paid cards, then?

Yeap. Or other methods (Steam supports over 100 of them).

 

[Terbinator]

Does CC=DC here?

 

[Mushroomer25]

Do we have similar data for other online storefronts? Because this seems low to me.

 

[Dreams-Visions]

Yeap. Or other methods (Steam supports over 100 of them).

Word. Yea, I would expect as such given not many people have credit cards (fewer than you'd think).

 

[Schnitzelfee]

its also interesting that the cost for a Steam retail card is 10 to 15% of the value of the card itself... for Steam/Valve

 

[Lashley]

its also interesting that the cost for a Steam retail card is 10 to 15% of the value of the card itself

Yep, I save a lot buying prepaid steam cards

 

[Dreams-Visions]

its also interesting that the cost for a Steam retail card is 10 to 15% of the value of the card itself

Has to be sold by a retailer somewhere. They don't stock things for free. :-)

 

[Kittens McMittens]

This just makes me think something I've long suspected: Steam is being used to launder cash. That's why there are so many garbage asset flip things on Steam.

 

[DarkShame3]

Interesting, and kind of unexpected, at least to me.

 

[Schnitzelfee]

Has to be sold by a retailer somewhere. They don't stock things for free. :-)

sure I get that, but its nice to have a number :)

and shows again that that 30% cut maybe pays for more stuff than people think... including those over 100 payment services specific to some countries and so on...

 

[Wraith]

Steam provides 100 Payment methods. Only 10% of purchases are done via credit card, paypal, paysafe. The remaining 90% of purchases are mostly done via cash. Your customers probably don't use credit cards.

Countries like Japan pay for their games that are different than the north american model. Japanese customers prefer to go in store to purchase a voucher. Japanese customers prefer to use cash. So Steam retail cards match the Japanese model for purchasing games.

https://steamdb.info/blog/steam-business-update-at-gdc-2019/

Since the second paragraph came before the first, on the live blog... is the statement about 10% just referring to Japan?

 

[ILikeFeet]

This just makes me think something I've long suspected: Steam is being used to launder cash. That's why there are so many garbage asset flip things on Steam.

that's a really poor way to launder money

 

[TheTrain]

This just makes me think something I've long suspected: Steam is being used to launder cash. That's why there are so many garbage asset flip things on Steam.

Yea, sure there is something shady behind this. the fact that the medium has young boys playing, on average, isn't a factor, like at all

 

[Nabs]

Since the second paragraph came before the first, on the live blog... is the statement about 10% just referring to Japan?

I think they were focusing on Asia.

 

[SuikerBrood]

Don't think anyone in The Netherlands pays for their games via a credit card. PayPal is more used. But most people will use iDeal.

 

[Lashley]

This just makes me think something I've long suspected: Steam is being used to launder cash. That's why there are so many garbage asset flip things on Steam.

Russian mafia are legit shook by the EGS

 

[Mushroomer25]

This just makes me think something I've long suspected: Steam is being used to launder cash. That's why there are so many garbage asset flip things on Steam.

I've wondered the same thing.

Wouldn't the 30% cut that Steam takes (plus cost of developing an asset flip) make this a pretty inefficient way to launder cash, though? Or is that an expected cut for money laundering?

 

[Aeroucn]

Thankfully in my country they rolled support for the most common debit card so most people just pay with cash

 

[Hamster Plugin]

Pre-paid Steam wallet cards are available in Finland as well, although they are nowhere near as common as PSN/Xbox cards are. Gamestop is one of the few places selling them.

 

[Starfire22]

This just makes me think something I've long suspected: Steam is being used to launder cash. That's why there are so many garbage asset flip things on Steam.

Conspiracy.jpeg

 

[dex3108]

Since the second paragraph came before the first, on the live blog... is the statement about 10% just referring to Japan?

Probably in general. Steam is big in markets like China, Russia and South America where it is easier to pay with cash.

 

[PC-tan]

The pre-paid card thing is a nice option and ya in Japan just getting a credit card from what I heard is troublesome and that is why Sony requires it for you to buy Cero Z games on PSN (and also charges you 100 yen as well).

The lack of pre-paid cards is one of the things I would like for EGS to add and one of the things that I mentioned in the past keeping me from buying stuff from them

 

[Sky87]

Lots of keys from third party sites like CDKEYS then i'm guessing.

 

[RionaaM]

This just makes me think something I've long suspected: Steam is being used to launder cash. That's why there are so many garbage asset flip things on Steam.

Valve is secretly working with Jim Sterling. They get 30% of every video about those games.

 

[Chairmanchuck]

Probably in general. Steam is big in markets like China, Russia and South America where it is easier to pay with cash.

In China its not cash, but WeChat or AliPay. You scan the code with your WeChat or Alipay app that is connected to your debit card and Tencent/Alibaba processes the payment.

 

[labpleb]

This just makes me think something I've long suspected: Steam is being used to launder cash. That's why there are so many garbage asset flip things on Steam.

There are better and easier ways to launder money.

 

[dex3108]

In China its not cash, but WeChat or AliPay. You scan the code with your WeChat or Alipay app that is connected to your debit card and Tencent/Alibaba processes the payment.

Yeah i forgot about that.

 

[BasicAlgebrah]

Lots of keys from third party sites like CDKEYS then i'm guessing.

I've been trying to think of a reason for it and this makes the most sense.

 

[Nerdkiller]

I've never used my card to purchase games or subscription services, with the sole exception of PS+. It seems safer to use the prepaid method in the event your accounts ever get hacked.

 

[sanhora]

This just makes me think something I've long suspected: Steam is being used to launder cash. That's why there are so many garbage asset flip things on Steam.

Prankster uncles laundering all the moneyz.

 

[PSqueak]

Im pretty sure most of my country, Mexico, pay their steam games at OXXO, which frankly it's incredibly handy even tho i myself preffer paypal.

 

[dex3108]

This just shows how much Valve invests in market research so developers don't have to worry about it.

 

[prudis]

It seems safer to use the prepaid method in the event your accounts ever get hacked.

yep like it happened to me on certain competitors thing

 

[BasilZero]

Yep I can attest to this

I been using steam wallet cards while I use PayPal for pretty much everything else outside of steam

I don’t use credit cards at all for any online transactions

 

[Delusibeta]

This just makes me think something I've long suspected: Steam is being used to launder cash. That's why there are so many garbage asset flip things on Steam.

Wouldn't be easier to just sell the gift cards on the black market? You wouldn't have to submit a game, wait weeks for Valve to pay out, and surrender 30% to the store.

 

[Accoun]

I can relate to not using credit cards/PayPal and am always disappointed when it's the only two payment options a store uses.

 

[dex3108]

I've been trying to think of a reason for it and this makes the most sense.

They are talking about Steam Store purchases.

 

[gcwy]

How does someone pay cash for Steam games in the US?

 

[hanshen]

How does someone pay cash for Steam games in the US?

Pre-paid card.

 

[gcwy]

Pre-paid card.

I guess I was expecting a different answer.

 

[Futabaisthebest<3]

I rarely use Paypal whenever I buy something from discount sale, so I should be fine with enabled 2FA.

 

[Fishook]

I would’nt dream of using a pre-paid card, and I find pay pal crap. Always used Credit Card being based in UK we have good consumer protection. But I suppose other countries are completely different.

 

[L Thammy]

I didn't know cash was an option.

 

[DeadlyVenom]

One thing I never realized, as someone in the US, is how many payment methods Steam offers in other countries. More than just having regional pricing and taking local currencies it seems Steam tries to use local payment methods as well. I guess this goes with Gabe's idea that piracy is a services issue. Make it easier for people to pay for the games and they will.

 

[hanshen]

I guess I was expecting a different answer.

Like this?

 

[dex3108]

One thing I never realized, as someone in the US, is how many payment methods Steam offers in other countries. More than just having regional pricing and taking local currencies it seems Steam tries to use local payment methods as well. I guess this goes with Gabe's idea that piracy is a services issue. Make it easier for people to pay for the games and they will.

That is main reason why Valve is slow to implement regional pricing. They don't just lower price but leave it in US dollars like Epic does. They go for full package price, currency and payment method. On top of other things like VAT for example.

 

[Eggiem]

Still have most of my wallet money from the whole PUBG skin/crate hype. Haha.

 

[TheDutchSlayer]

Don't think anyone in The Netherlands pays for their games via a credit card. PayPal is more used. But most people will use iDeal.

ideal ALWAYS when ever possible.