Steam Now Allows User-Initiated Pre-Order Cancellations
In the past, in order to cancel a pre-ordered item on Steam users had to contact Valve. Now, if Steam users change their minds about pre-purchasing a game, they can cancel it with little fuss.
If you pre-order an item, a prompt now appears next to game offering the option to "Refund an item." You no longer have to get in touch with customer support to initiate a refund on purchased, unreleased games. It's unclear if the money returns to your Steam wallet, or directly to your bank account.
Valve didn't make a formal announcement of the new feature. Instead, the new "Refund an item" button was noticed by Steam users and discussed on the Steam forums.
This seems like one of those features that probably should have always been present on Steam (and competing digital download services), but I am glad to see it appearing now. Better late than never.