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Valve gets a 30% cut from purchases on Steam. If a mobile payment gets revoked by the payment company and/or phone carrier, Valve looses that money, but the developer still got paid. That is a 70% loss for them, in addition to any fees they may have to pay their bank.
Mobile payments for Steam/Valve are not possible as the risks out weigh the benefits.
LOTRO uses mircropayments and get 100% of the money for them, when done directly. The risk to them is far smaller then what it is to Valve.