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Is there any chance your card being a DEBIT VISA card (and not a credit one)
Some prepaid/gift cards cannot be used for online purchases though.
Just trying to cover all bases just in case.
This message should normally pop up when the number of the card you entered IS valid, but doesn't match the type of card you have claimed it is (for instance a VISA credit card instead of a debit, or a Mastercard or something). So the first thing you should do is to make sure you have that correct. ALWAYS check the card you have and look for the VISA logo (or other logo) on there. If it is there, it SHOULD work.
However, Valve do from time to time drop certain payment providers, usually when there's problems or security issues. PaysafeCard often goes through this from time to time. So it may simply be something along those lines.
Bottom line though - if you get stumped you should ALWAYS talk to the card provider or bank. Valve can't help in instances like this (unless it is some weird glitch on Valve's end). You should talk to the bank and ask then to check two things - that the fuinds are definitely there and available in your account, and that the card is not blocked and able to use online. Some banks issue debit cards that require you to ring up and "unlock" it for online use beforehand.
If all else fails, and your bank confirm everything is A-OK, then all you can really do is either find another method of payment or use your card to put a balance on paypal, then use that to pay for Steam goods.
Choose your payment method as "master card"(even tho your card is VISA), then click submit. Wait for error. Now revert back to VISA and try again, it'll work.