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

dex3108 · Mar 21, 2019

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 · Mar 21, 2019

Pre-Paid cards, then?

dex3108 · Mar 21, 2019

Dreams-Visions said:
Pre-Paid cards, then?

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

Terbinator · Mar 21, 2019

Does CC=DC here?

Meg Cherry · Mar 21, 2019

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

Dreams-Visions · Mar 21, 2019

dex3108 said:
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 · Mar 21, 2019

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 · Mar 21, 2019

Schnitzelfee said:
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 · Mar 21, 2019

Schnitzelfee said:
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 · Mar 21, 2019

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 · Mar 21, 2019

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

Schnitzelfee · Mar 21, 2019

Dreams-Visions said:
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 · Mar 21, 2019

dex3108 said:
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 · Mar 21, 2019

Kittens McMittens said:
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 · Mar 21, 2019

Kittens McMittens said:
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 · Mar 21, 2019

Wraith said:
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 · Mar 21, 2019

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 · Mar 21, 2019

Kittens McMittens said:
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

Meg Cherry · Mar 21, 2019

Kittens McMittens said:
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 · Mar 21, 2019

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

Hamster Plugin · Mar 21, 2019

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 · Mar 21, 2019

Kittens McMittens said:
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 · Mar 21, 2019

Wraith said:
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 · Mar 21, 2019

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 · Mar 21, 2019

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

RionaaM · Mar 21, 2019

Kittens McMittens said:
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 (另一个我) · Mar 21, 2019

dex3108 said:
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.

Deleted member 39587 · Mar 21, 2019

Kittens McMittens said:
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 · Mar 21, 2019

Chairmanchuck said:
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.

Virtua Saturn · Mar 21, 2019

Sky87 said:
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 · Mar 21, 2019

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 · Mar 21, 2019

Kittens McMittens said:
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 · Mar 21, 2019

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 · Mar 21, 2019

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

prudis · Mar 21, 2019

Nerdkiller said:
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 · Mar 21, 2019

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 · Mar 21, 2019

Kittens McMittens said:
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 · Mar 21, 2019

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 · Mar 21, 2019

BasicAlgebrah said:
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 · Mar 21, 2019

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

hanshen · Mar 21, 2019

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

Pre-paid card.

gcwy · Mar 21, 2019

hanshen said:
Pre-paid card.

I guess I was expecting a different answer.

Futabaisthebest<3 · Mar 21, 2019

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

Fishook · Mar 21, 2019

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 · Mar 21, 2019

I didn't know cash was an option.

DeadlyVenom · Mar 21, 2019

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 · Mar 21, 2019

gcwy said:
I guess I was expecting a different answer.

Like this?

dex3108 · Mar 21, 2019

DeadlyVenom said:
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 · Mar 21, 2019

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

TheDutchSlayer · Mar 21, 2019

SuikerBrood said:
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.

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

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