Big 12 to Partner with Venmo, Paypal to Pay Athletes

SAN JOSE, CA — In a landmark move that signals the modernization of college sports, PayPal Holdings, Inc. (NASDAQ: PYPL) announced multi-year partnerships with the Big Ten and Big 12 Conferences to enable institutional payments to student-athletes as part of a new revenue-sharing model.

The initiative, made possible by a recent court ruling allowing direct revenue sharing with college athletes, will allow university athletic departments to distribute funds to student-athletes through PayPal. Payments will be deposited directly into student wallets, giving them access to the broader PayPal ecosystem—including using funds for event tickets, bookstore purchases, and more.

"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."

Big Ten Commissioner Tony Petitti and Big 12 Commissioner Brett Yormark both expressed excitement over the partnership, citing it as a necessary step in ensuring fast and reliable access to student payments as the college athletics landscape evolves.

"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 will also become a preferred tuition payment partner at select universities beginning in early 2026, providing students and families added convenience and flexibility.

Venmo, PayPal’s social payments platform, will become a major presence in college sports and campus life. It will serve as the presenting partner of the Big Ten Rivalry Series, covering football, men’s and women’s basketball. In the Big 12, Venmo becomes an official partner across football, basketball, and Olympic sport championships, with brand activations spanning all 16 member institutions.

• Summer 2025: Student-athletes begin receiving payments via PayPal.

• Fall 2025: Venmo launches Big Ten and Big 12 sponsorships with the start of football season.

• Early 2026: PayPal tuition payment option launches at select schools.

PayPal is a global leader in digital commerce, operating in nearly 200 markets for more than 25 years. Learn more at paypal.com and about.pypl.com.

Venmo offers fast, social money movement and is increasingly becoming a commerce solution for young adults. Learn more at venmo.com