After the reports circulating last week, it’s now official. Sony will be ending support of PlayStation Store for the PS3, PS Vita and PSP.
The PS Store closure for PS3 and PS Vita will be on August 27. PSP will lose all of its purchase functionality by July 2.
But don’t panic! Contrary to our assumption before, Sony will still allow limited access of the devices to their services. So your previous purchases from the PS Store is still accessible. You can redownload them still and will continue to have access to them.
So no, your digital purchases won’t just be gone, thankfully.
What’s gone is the ability to buy anything using the consoles. All in-app purchases (microtransactions) as well as digital game sales will not work. So now’s a good time to browse the PS Store (through the respective devices- the web store won’t show PS3, PS Vita and PSP games anymore) and grab games.
It’s still a shame that digital game and content sales from the PS3, PS Vita and PSP will cease. After the two dates, your only way to procure new games are from physical copies. But at least it’s not the worst case scenario.
Source: PlayStation Support