Steam has finalised a move to convert all pricing to RM for Malaysian users. This has turned out to be a good thing in one way as there is a noticeable discount on the offered titles. However, this comes at a price as PayPal is no longer listed as one of the payment options available. Instead, it appears to be have been replaced by local payment options MOL and eClub points.
Prices in Ringgit appear to take on a substantial discount on the Steam site, with triple A titles that used to cost US$59.99 dropping to as low as RM105. This does not cover everything, as some Capcom games still maintain a direct currency conversion. Still, it looks good enough as many games are now within the means of more gamers; especially for pre-order titles like Borderlands the Pre-sequel and Civilization: Beyond Earth.
The other difference now is the lack of option to pay for anything via PayPal. Steam has apparently made a deal with MOL and eClub to user their virtual merchant services instead, which could be a problem for those who prefer to use PayPal for online shopping. There has been no official statement from Steam on the matter, although it should be assumed that the company is using local merchants to acquire more favourable exchange rates.
Another issue that may crop up in the future is an almost throwaway line in the new FAQ. Steam has a disclaimer that states some games will not be available until they are priced in RM, meaning that it is now up to both MOL and eClub to keep up with the most recent releases. Big budget games will likely be unaffected by this, but it could slow down the releases of indie titles and games from lesser known developers.
While there will be a large portion of gamers who are unhappy with the removal of PayPal, there is still the option of buying Steam Gift Cards from other vendors. It’s just a little inconvenient for those who want to use their preferred online payment method.