Steam Is Changing How Players Pay for Games Around the World

Summary

Valve is changing the way Steam pricing works in Argentina and Turkey, as well as regionalizing prices in 25 total countries, to address issues with currency exchange rates and fluctuating prices.
In Argentina and Turkey, games will now be priced in US dollars instead of pesos and liras, respectively, to maintain stability and offer consistent payment methods.
Gamers in these regions may be disappointed by the change, as some have asked Valve to accept more currencies on Steam, not fewer. The new model will go into effect on November 20, 2023.

Valve has announced that it is changing the way Steam pricing is handled in Argentina and Turkey, and regionalizing prices in 25 total countries beginning on November 20, 2023. When shopping on Steam, some regions in the world have benefited from pricing being in their local currency. This can sometimes result in a purchase costing more or less than it would in other parts of the world, which some consumers find unfair. Others take advantage of the difference, swapping regions to score the best Steam price for games.

However, the currency exchange rate is a determining factor for game prices on Steam, along with taxes and other region-specific fees. In some countries, these prices can fluctuate greatly from week to week, making it tough for developers to set game prices that are both profitable and fair to consumers. The way it works now, developers constantly have to amend their Steam prices to reflect the changing currency values in different countries, and the idiosyncrasies of regional pricing for video games also make it difficult for Valve to keep Steam’s various payment methods current.

Specifically addressing the “exchange rate volatility” in Argentina and Turkey, Valve has announced that it will no longer be offering games in pesos or liras, respectively. Instead, prices will be given in US dollars. The change is intended to maintain stability in pricing and therefore be less of a headache for both developers and consumers. It will also enable Steam to offer more consistent payment methods. However, this seems to be directly opposite the desire of some gamers, who have asked Valve to accept more currencies on Steam, not fewer.

This new model will go into effect on November 20, 2023, and Steam users with Argentine pesos or Turkish liras in their wallet will have their balances converted to US dollars on that date, at the then-current exchange rate. Likewise, any Steam subscriptions in Argentine or Turkish currencies will be canceled, and users will have to resubscribe in US dollars.

The change to Argentina and Turkey’s pricing models will also add them to a list of 25 countries included in Valve’s new “regionalized USD pricing.” For these regions, game purchases on Steam will default to US dollars.

Though many gamers probably don’t really think about video game pricing beyond whether a new release will cost $60 or $70, game companies have a lot to keep in mind when determining sale prices. Not only do storefronts have to take regional currencies into consideration, but also competitor pricing. This became apparent a couple of years ago when Epic Games Store’s sale of Hitman 3 ended abruptly due to Valve's “pricing parity” requirement, which means developers can’t lower a game’s price on other storefronts without doing the same on Steam.