PayPal partners with Big Ten, Big 12 on student-athlete payments
Head Coach Dusty May and Michigan Wolverines players celebrate Wisconsin Badgers on March 16, 2025 in Indiana, Indiana, after defeating Wisconsin Badgers at the Big -Ten Men’s Basketball Tournament Championship in Gainbridge Fieldhouse.
Aaron J. Thornton | Getty Images
Global payment company Paypal On Thursday, he announced that he had signed an agreement with Big Ten and Big 12 conferences to allow student athletes to receive compensation through the Platform of Fintech.
The announcement comes only weeks after a court agreement in the House / NCAA case, which significantly changed the college sports view by allowing schools to compensate for student athletes for the first time. The settlement allows individual schools to distribute to existing athletes up to $ 20.5 million next year and provides compensation to old players in NCAA to $ 2.8 billion.
The new agreement will allow Big Ten and Big 12 athletic departments to distribute these payments using only PayPal.
Paypal said the first presentation is expected to start this summer. The parliamentary settlement entered into force on 1 July.
The agreement, Big Ten and Big 12 universities will allow students to receive their compensation quickly and safely, he said. The company added that students will have the option of paying university fees through Paypal, which will be a preferred payment partner in Select Schools.
“We are proud to help with this transformation easier and faster in college athletics.
PayPal President and CEO Alex Chriss said in a statement to continue to pay reliable and innovative trade solutions to the heart of the campus life.
PayPal’s mobile payment service Venmo is expanding its position in college sports.
Venmo will be the presentation partner of the first Big Ten Competition series and will serve as the official partner of the Big 12 Conference. The company also works with Big Ten and Big 12 schools to allow students to use Venmo in their university bookstores and campus athletics for products such as tickets, privileges and goods.
The Big Ten Conference expanded to 18 schools last August, the University of Maryland, Penn State University, Michigan University and Ohio State University. Big 12 conference has 16 schools such as Arizona State University, Central Florida University and Houston University.
