Venmo Launches Big 12 Debit Cards for Students and Fans to Score More Across Campus and on Gameday
Rhea-AI Summary
Venmo (NASDAQ:PYPL) has announced the launch of Big 12 Conference and school-branded Venmo Debit Mastercard designs, targeting students, alumni, and fans. The cards will offer 15% cashback on select purchases and exclusive perks including ticket giveaways and gameday upgrades.
The company has partnered with three Big 12 student-athletes - NiJaree Canady, Olivia Miles, and Sam Leavitt - as brand ambassadors who will receive NIL payments through Venmo. The cards will be available for 11 participating schools including Arizona, Baylor, Colorado, and others, with virtual card access starting August 11th and physical cards shipping in September 2025.
Positive
- None.
Negative
- Limited to specific conference schools, potentially restricting broader market penetration
- Cashback offers are time-limited, which may affect long-term user retention
Insights
PayPal's Venmo leverages college sports partnerships to expand its user base and increase transaction volume among valuable young demographics.
PayPal's Venmo is making a strategic play for the collegiate market with the launch of Big 12 Conference and school-branded debit cards, targeting a demographic crucial to its growth strategy. This move is particularly significant as it returns Venmo to its roots – the platform initially gained traction on college campuses, making this a natural extension of its core user base.
The initiative combines multiple revenue-generating strategies: increasing Venmo's payment volume through debit card transactions, capturing a portion of interchange fees, and leveraging 15% cashback offers that likely include merchant-funded incentives. By partnering with the Big 12 Conference and implementing NIL deals with student-athletes, Venmo is positioning itself at the intersection of two powerful trends – collegiate sports' massive engagement and the growing NIL economy for student-athletes.
From a competitive standpoint, this represents a defensive move against financial services competitors targeting Gen Z and younger millennials. The program creates network effects by encouraging Venmo balance usage beyond peer-to-peer payments, potentially increasing customer lifetime value. By having student-athletes receive NIL payments directly to Venmo accounts, the company creates a closed-loop ecosystem that drives further usage.
What makes this partnership particularly valuable is its strong emotional connection to school pride and sports fandom, which typically generates higher engagement and stickiness than traditional financial products. PayPal is leveraging these affinity relationships to drive everyday spending behavior, creating habitual usage patterns that could persist long after graduation.
Partnerships with the Big 12 Conference and student-athletes will drive everyday spend with Venmo across college campuses nationwide
With the Venmo Debit Card, users can activate limited-time
"Venmo's origins are on college campuses. It's where our network took hold. Today, it still plays an integral role in the way millions of college students, athletes, alumni, and fans engage with each other and move money in their daily lives," said Geoff Seeley, Chief Marketing Officer, PayPal. "We're not just putting logos on debit cards – we're creating experiences rooted in the passion and community of college sports so people can feel closer to their schools and get rewarded when they spend their Venmo balance."
Name, Image, and Likeness Partnerships Help Big 12 Student-Athletes to Pay Like a Champion
Venmo is partnering with Big 12 student-athletes NiJaree Canady, Olivia Miles, and Sam Leavitt to serve as brand ambassadors throughout the 2025-26 school year, showcasing all of the everyday ways you can spend and earn rewards with the Big 12 Conference and school-branded Venmo Debit Cards.
Through these partnerships, the student-athletes will receive a portion of their NIL payments into their Venmo account and showcase the ability to seamlessly spend their Venmo balance in meaningful ways beyond peer-to-peer payments.
"I take pride in helping pave the way for the next generation of female athletes," said NiJaree Canady, Texas Tech softball pitcher. "This partnership with Venmo will help create real financial empowerment for athletes, and I'm excited to help them break new ground as part of it. I already use Venmo all the time, and now with the Texas Tech Venmo Debit Card, it will be easier than ever to put my NIL earnings to work in ways that matter to me and support Red Raider Nation at the same time."
"Partnering with Venmo allows me to take more ownership of my financial journey as a student-athlete," said Olivia Miles, TCU guard. "With the TCU Venmo Debit Card, I can spend my NIL earnings in so many ways – whether it's helping to cover travel to support my family, giving back to the community, or just handling everyday essentials like groceries and training meals. What makes this partnership even more special is being able to share what I've learned about the Venmo Debit Card benefits and financial responsibility to guide the next generation of student athletes."
"Venmo is already part of my everyday life. It's how I split meals with teammates, pay for essentials, and stay connected off the field," said Sam Leavitt, Quarterback for the Arizona State Sun Devils. "Partnering with Venmo means more than just financial support - it gives me freedom over how I spend these NIL funds with my Big 12 Venmo Debit Card to make a difference. Whether it's helping out my teammates, supporting local causes, or investing back into the ASU community, I'm grateful to work with a brand that understands the power of connection and empowers athletes like me to uplift the people around us."
Available this fall, students, athletes, alumni, and fans from
The Big 12 Conference and school-branded Venmo Debit Cards are expected to be available for sign-up and virtual card access on August 11th, with physical cards shipping in September. To join the waitlist for the Big 12 Conference and school-branded Venmo Debit Cards, go to: venmo.com/collegecard.
Welcoming a New Era in Collegiate Athletics
Later today at the Big 12 College Football Media Day, Venmo will bring together Brett Yormark, Big 12 Commissioner, Geoff Seeley, PayPal Chief Marketing Officer, Sam Leavitt, and Olivia Miles to discuss the new revenue share agreement, marking a monumental shift in how student-athletes can further benefit from their NIL and institutional payments. Tune into the conversation live on ESPN+ at 2:45 pm CT.
About Venmo
Venmo is the go-to money movement app of the next generation, offering fast, safe, and social payments. With best-in-class experiences for users to send, split, shop, and sell, Venmo enables a seamless flow of money between the people and places that matter most to millions of users across
About Big 12 Conference
The Big 12 enters its 30th year as one of the nation's premier conferences in college athletics under the leadership of Commissioner Brett Yormark. Since joining the Conference in August 2022, Yormark has elevated the Big 12 to new heights, emphasizing marketing, brand building and instilling an innovative strategy that has resonated across the college athletics landscape. The Conference is composed of 16 universities spanning 10 states and four time zones. The Big 12 members include
1 The Venmo Mastercard® is issued by The Bancorp Bank, N.A., pursuant to license by Mastercard International Incorporated. Card may be used everywhere Mastercard is accepted. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. The Bancorp Bank, N.A. is issuer of the Card only and not responsible for the associated accounts or other products, services, or offers from Venmo. |
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SOURCE PayPal Holdings, Inc.
FAQ
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