PayPal announces multi-year agreements with Big Ten, Big 12 Conferences

PayPal (PYPL) Holdings 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.