Sep 14, 2010 19:01 GMT  ·  By

Video game publisher and developer Valve, the parent company of the digital distribution platform Steam, has announced the public beta launch of a new system called Steam Wallet, which will allow users to buy virtual funds that can then be used to purchase content from the video game store.

Users who are interested in testing the system can sign up on this Steam page and can add currency to their Steam Wallets using the sums of 5, 10, 25, 50 and 100 dollars.

Valve is making it clear that the new beta system is not set to replace the standard payment system, which involves using credit cards to get video games.

The company is not saying exactly why it is testing the Steam Wallet idea but it could be an alternative payment system which is aimed at those in less developed markets, where credit cards are not omnipresent, and at customer groups, like kids, that need to convince their parents to transfer funds in order to get the newest titles.

Valve could also move to sell pre paid cards in video game specialist stores, although it has announced no such plans.

The Steam Wallet could also allow gamers to get some content, like DLC, directly from a game they are playing, using already existing funds, rather than quitting and then accessing Steam.

A similar system is used by other digital distribution platforms like the Xbox Live Marketplace, which is used on the Xbox 360 from Microsoft, the PlayStation Store from Sony for its home console and the Wii Store for Nintendo devices.

Valve has revolutionized the PC gaming space when it turned Steam from a patch delivery system into a complex web based store which is supported by all the biggest publisher and allows gamers to get titles on the same day they launch in retail stores from the comfort of their stores.