Valve Implements Six-Month Expiry for Unused Steam Wallet Funds in Japan
Valve has updated its Steam user agreement in Japan, stipulating that any funds added to Steam Wallet will expire if unused within six months. The change took effect on April 20.
Valve, the company behind the popular digital game distribution platform Steam, has quietly altered its user agreement for customers in Japan. Effective April 20, any funds deposited into a user's Steam Wallet will now expire if they remain unused for a period of six months from the date of deposit.
The updated terms of service cite compliance with Japanese law as the reason for this new policy. Industry publications, such as Automaton, speculate that this move is likely related to Japan's Payment Services Act. This law requires companies that issue prepaid payment instruments to hold a reserve for unused balances exceeding a certain threshold.
However, the Payment Services Act includes an exception for payment instruments that have a validity period of six months or less. By imposing a six-month expiration on Steam Wallet funds, Valve may be seeking to qualify for this exemption. The company has not yet provided a detailed explanation or cited specific legal provisions.
Furthermore, it remains unclear whether this new rule will be applied retroactively to existing balances. Users are seeking clarification on whether previously deposited funds are also subject to the six-month expiration, and from what date this period would be calculated. Valve has not yet addressed these outstanding questions.