Valve, consider developing your own payment processor

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Dekar 19 Jul @ 8:49am

A common issue that arises in today's connected world, especially with online streaming, is the dependency upon payment processors, pp's that can dictate what is and is not said.
For example, if political group A has ardent supporters who just happen to own the pp's that proponents of political group B use, they can (and have) used this fact to censor them by cutting them off from their ability to send and receive funding.
Same goes for for Steam's ability to sell certain types of games.
Developing your own Payment Processing network would ensure Valve's ability to remain unhindered by the changing political whims of the times and help to future proof the company.
Would also bring in another large revenue stream as people who would otherwise unable to use traditional pp's would certainly be using it, not to mention providing an avenue for purchasing games that might otherwise not be available.

In short, develop your own payment processing, get paid.

Last edited by Dekar; 19 Jul @ 8:55am

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Showing 1-15 of 25 comments

xBCxRangers 19 Jul @ 8:57am

I think Nvidia did that recently with their Ge Force Now Service. But Nvidia is Nvidia. Valve is Valve and likely do not have the muscle for such a request.

Dekar 19 Jul @ 9:10am

Originally posted by xBCxRangers:
I think Nvidia did that recently with their Ge Force Now Service. But Nvidia is Nvidia. Valve is Valve and likely do not have the muscle for such a request.

Well I guess my main point its, there is a fortune to be made, simply by having a PP that holds most of Valve's core values when it comes to digital content.
For example, in Japan, there is a an online archive of manga called Manga Library Z.
Many of the hosted mangas are out of print, so your only hope of reading some (legally) would be to subscribe to the site.
Recently however, certain major payment processors mandated to the website, that certain words and content will not be allowed, and should they continue to provide access to those old manga, the pp's will refuse service.
If given an viable alternative where they can continue to provide their service and content relatively unhindered the owners and operators of Manga Library Z would absolutely use it.

Last edited by Dekar; 19 Jul @ 9:11am

Crazy Tiger 19 Jul @ 9:26am

Do people really think it's that easy to create a global financial network for payment processing? Cause that's what is needed to replace MC/Visa, who are titans in credit and debit cards worldwide.

Mad Scientist 19 Jul @ 9:27am

We already have numerous threads talking about the visa/mastercard thing and having suggested they make their own payment method/processor. When youtubers are talking about something, and going to the forum it's best to search first.

They aren't setup to be a bank, and they seem content in experimenting with hardware, not banking, which is significantly far less of a risk than starting a payment method with loads of customers that are unknown as to how well they bank.

As a side note, they likely still wont be taking any form of crypto any decade soon since about half of the transactions were fraudulent.

Dekar 19 Jul @ 9:48am

Originally posted by Crazy Tiger:
Do people really think it's that easy to create a global financial network for payment processing? Cause that's what is needed to replace MC/Visa, who are titans in credit and debit cards worldwide.

There are some hurdles, but nothing substantial for a company like Valve.
What keeps most companies from developing and using their own is that the initial cost and maintenance isn't commiserate with the benefit of owning your own.
That being said, you could setup your own payment processor for half a years salary for a Valve employee (about 2 million usd.)

Dekar 19 Jul @ 9:52am

Originally posted by Dekar:
Originally posted by Crazy Tiger:
Do people really think it's that easy to create a global financial network for payment processing? Cause that's what is needed to replace MC/Visa, who are titans in credit and debit cards worldwide.
There are some hurdles, but nothing substantial for a company like Valve.
What keeps most companies from developing and using their own is that the initial cost and maintenance isn't commiserate with the benefit of owning your own.
That being said, you could setup your own payment processor for half a years salary for a Valve employee (about 2 million usd.)

If Valve set one up and slowly transition to it's use for payment processing by users, you can bet your ass it would start to put pressure on the other pp's that do business with Valve. They would eventually have to change their unreasonable demands of Valve or risk losing the business of 10's of millions of gamers.

rawWwRrr 19 Jul @ 10:53am

Creating a payment processing system isn't like getting a dozen coders in a room to make it happen. The ones that exist today are the result of years of investment in infrastructure, contracts, licensing, regulation. It's not something one can copy/paste into a new setup. If that was possible, we'd see everyone doing it.

William Shakesman 19 Jul @ 10:59am

Payment processors and financial corporations have created a web of regulations and requirements precisely to prevent any such competition from ever being stood up. It's impossible. This is by design and with intent. And something agreed upon at almost every level of government from American corporations to the European Left. Every western government ADORES this setup.

Last edited by William Shakesman; 19 Jul @ 11:04am

Truth 19 Jul @ 11:05am

Originally posted by William Shakesman:
Payment processors and financial corporations have created a web of regulations and requirements precisely to prevent any such competition from ever being stood up. It's impossible. This is by design and with intent.

That is completely false, the regulations and requirements are created by the government and banks and have nothing to do with the payment processors who are forced to comply with them.

It's far from impossible, but it takes significant upfront investment and can take quite a while to get all the approvals needed, to do the testing and certification.

zanmatou 19 Jul @ 12:15pm

Gamers consider not using the payment processors that impose censorship anymore at all.

#10

lolschrauber 19 Jul @ 12:16pm

Originally posted by Crazy Tiger:
Do people really think it's that easy to create a global financial network for payment processing?

Yes. Yes they do. It's called being out of touch with reality.

#11

zanmatou 19 Jul @ 12:37pm

if valve used a separate client that is not using these payment processors would that bypass these superficial imposed rules?
And if payment processors still go against the normal steam over it would they be liable for any damages?

Last edited by zanmatou; 19 Jul @ 12:40pm

#12

William Shakesman 19 Jul @ 12:56pm

Originally posted by zanmatou:
Gamers consider not using the payment processors that impose censorship anymore at all.

There aren't any others. That's the whole point of the monopoly and the control that comes with it. You are not allowed another choice and it is forbidden for anyone to ever try to create one.

#13

Truth 19 Jul @ 1:04pm

Originally posted by William Shakesman:
Originally posted by zanmatou:
Gamers consider not using the payment processors that impose censorship anymore at all.
There aren't any others. That's the whole point of the monopoly and the control that comes with it. You are not allowed another choice and it is forbidden for anyone to ever try to create one.

Which isn't a thing here. There are multiple payment processors, more then 4 in the US alone, and others have created their own payment processors.

I mean you keep claiming its forbidden to create one, yet facts show you are wrong. In recent years apple and google have both created their own payment processors for instance which disproves your claim that its forbidden

#14

nullable 19 Jul @ 1:12pm

Originally posted by Dekar:
Originally posted by Crazy Tiger:
Do people really think it's that easy to create a global financial network for payment processing? Cause that's what is needed to replace MC/Visa, who are titans in credit and debit cards worldwide.
There are some hurdles, but nothing substantial for a company like Valve.

And from what expertise did you derive this hum dinger from? I mean this is clearly, "I can imagine Valve can do anything trivially, so they can." No. Just no.

Originally posted by Dekar:
What keeps most companies from developing and using their own is that the initial cost and maintenance isn't commiserate with the benefit of owning your own.
That being said, you could setup your own payment processor for half a years salary for a Valve employee (about 2 million usd.)

It's like your whole post is trying to be the poster boy example for the Dunning-Kruger effect.

Originally posted by Truth:
Originally posted by William Shakesman:
Payment processors and financial corporations have created a web of regulations and requirements precisely to prevent any such competition from ever being stood up. It's impossible. This is by design and with intent.

That is completely false, the regulations and requirements are created by the government and banks and have nothing to do with the payment processors who are forced to comply with them.

Oh yes, entities with money never lobby or bribe politicians. Politicians never write legislation to benefit certain businesses.

Completely false? Not sure if you don't know what completely means, or what false means.

Originally posted by Truth:
It's far from impossible, but it takes significant upfront investment and can take quite a while to get all the approvals needed, to do the testing and certification.

Not impossible isn't a synonym for realistically possible, especially given the context of "Valve should make a payment processor because a small number of games may raise red flags with business partners".

It's all desperate neckbeard fever dream madness.

Last edited by nullable; 19 Jul @ 1:18pm

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Date Posted: 19 Jul @ 8:49am

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