PR Newswire
Multi-year partnerships will bring PayPal and Venmo to college campuses nationwide
SAN JOSE, Calif.
, June 26, 2025 /PRNewswire/ — PayPal Holdings, Inc. (NASDAQ: PYPL), a global leader in payments, today announced multi-year agreements with the Big Ten and Big 12 Conferences that will modernize the distribution of institutional payments from universities to student-athletes in a new revenue-sharing model. The new institutional payments initiative enables athletic departments to seamlessly dispense payments through PayPal, ensuring a secure, efficient, and transparent way to distribute funds to payees. With the funds in their wallets, students will have the option to access all the benefits of PayPal’s commerce ecosystem, from seamlessly buying tickets to a sporting event or purchasing their books for the year at the university bookstore.
The recent court decision, which allows colleges and universities to share revenue directly with student-athletes, stands to revolutionize college sports. This partnership helps make that real by distributing those funds to student-athletes in a fast, simple, and secure way.
“We’re proud to help lead this transformation in college athletics by making it easier and faster for student-athletes to receive funds and continue to bring trusted and innovative commerce solutions to the heart of campus life,” said Alex Chriss, President and CEO, PayPal. “From receiving institutional payments to making everyday purchases, we’re helping student-athletes, families, and schools engage in new ways that are modern, secure, and built for the future.”
“We look forward to partnering with PayPal to ensure a secure, rapid and reliable way for student-athletes to receive institutional payments as we welcome in this new era in college athletics,” said Big Ten Commissioner Tony Petitti.
“We are thrilled to enter into this landmark partnership with PayPal and Venmo,” said Big 12 Commissioner Brett Yormark. “As we embark on a new era of college athletics, aligning with a global leader like PayPal will unlock a wealth of opportunities for the Big 12. This partnership will also empower our student-athletes to receive payments through a secure, trusted platform they already know and use.”
Beyond institutional payments, PayPal and Venmo already play a key role in how students manage everyday life and will now show up in even more ways across campus. PayPal will become a preferred payment partner for tuition payments at select schools, offering parents and students another convenient and flexible way to pay with their PayPal wallet.
Venmo On Campus
Venmo, a leading social payments platform, is doubling down in its focus on younger consumers by expanding its position as a cornerstone of campus life and commerce.
Venmo will be the presenting partner of the first-ever Big Ten Rivalry Series, spanning football, men’s and women’s basketball, embedding the brand in some of the most iconic matchups in college sports.
With the Big 12, Venmo will serve as the official partner of the Big 12 Conference across Big 12 football, basketball, and Olympic sports championships for both men and women. Venmo will also be seen across all 16 institutions’ athletic events.
But Venmo’s role extends far beyond this. With more than 64 million U.S. accounts using it monthly, students already love using the app to send and receive money with friends. Now, Venmo is accelerating the expansion of its commerce capabilities, introducing even more ways to use a Venmo balance beyond peer-to-peer, from everyday purchases on campus to earning rewards in-store and online 1 with the Venmo Debit Mastercard®2.
Venmo will be working with the Big Ten and Big 12 to enable acceptance for real-world campus spending, including at bookstores, for ticketing, concessions, and merchandise, giving students more flexibility to shop and pay with the app they already use every day. Students who use the Venmo Debit Card can for a limited time unlock up to 15% cash back at select national brands, including Sephora, Walmart, Lyft, McDonald’s, and Walgreens,3 with added features like tap-to-pay when added to a mobile wallet, automatic transfers to top up your balance, and the ability to shop internationally anywhere Mastercard is accepted with no foreign transaction fees.
The first phase of the rollout is expected to begin this summer, when student-athletes can begin receiving institutional payments from institutions through PayPal. Venmo will kick off college conference sponsorships for the 2025-2026 school year, beginning with football season and on-campus activations. Tuition payments through PayPal are expected to launch in early 2026.
About PayPal
PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com, https://about.pypl.com/ and https://investor.pypl.com/.
About Venmo
Venmo is the go-to money movement app of the next generation, offering fast, safe, and social payments. With best-in-class experiences for users to send, split, shop, and sell, Venmo enables a seamless flow of money between the people and places that matter most to millions of users across the United States. For more information, go to: Venmo.com.
About Big Ten Conference
The Big Ten Conference is an association of world-class universities whose member institutions share a common mission of research, graduate, professional and undergraduate teaching and public service. Founded in 1896, the Big Ten has sustained a comprehensive set of shared practices and policies that enforce the priority of academics in the lives of students competing in intercollegiate athletics and emphasize the values of integrity, fairness and competitiveness. The Big Ten Conference sponsors 28 official sports, 14 for men and 14 for women, and the broad-based programs of the 18 Big Ten institutions provide direct financial support for more than 14,000 student-athletes. For more information, visit www.bigten.org.
About Big 12 Conference
The Big 12 enters its 30th year as one of the nation’s premier conferences in college athletics under the leadership of Commissioner Brett Yormark. Since joining the Conference in August 2022, Yormark has elevated the Big 12 to new heights, emphasizing marketing, brand building and instilling an innovative strategy that has resonated across the college athletics landscape. The Conference is composed of 16 universities spanning 10 states and four time zones. The Big 12 members include Arizona, Arizona State, Baylor, BYU, UCF, Cincinnati, Colorado, Houston, Iowa State, Kansas, Kansas State, Oklahoma State, TCU, Texas Tech, Utah, and West Virginia. The Big 12 began play in 1996 and is the home of 91 team NCAA national championships, and 775 individual national champions. The Big 12 Conference office is located in Irving, Texas.
Media Relations Contact:
[email protected]
|
|
Venmo cash back terms at venmo.me/rewards. Offers are available for a limited time at select merchants. Max cash back applies and varies. Venmo purchase restrictions apply. |
|
|
The Venmo Mastercard® is issued by The Bancorp Bank, N.A., pursuant to license by Mastercard International Incorporated. Card may be used everywhere Mastercard is accepted. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. The Bancorp Bank, N.A. is issuer of the Card only and not responsible for the associated accounts or other products, services, or offers from Venmo. |
|
|
Max $8 avail. monthly per participating merchant. See terms at venmo.me/helpcenter. |
View original content to download multimedia:https://www.prnewswire.com/news-releases/big-ten-and-big-12-enter-historic-partnerships-with-paypal-to-enable-institutional-payments-for-student-athletes-in-new-revenue-sharing-model-302491640.html
SOURCE PayPal Holdings, Inc.
