Overview

• Big Ten and Big 12 athletic departments will exclusively use PayPal to deposit institutional compensation into student-athletes’ accounts
• The payment system’s initial rollout is scheduled for this summer to align with the House v. NCAA settlement implementation
• The settlement authorizes individual schools to allocate up to $20.5 million to current athletes and $2.8 billion to former players over the next year
• Venmo will expand its campus role by supporting transactions for tickets, concessions and merchandise at member schools
• Students will have access to a new Venmo Debit Mastercard for on-campus purchases under the partnership