PayPal 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. Venmo 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. 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. 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 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.