Venmo Teams Up with Quarterback Drew Allar to Launch Penn State Venmo Debit Card

Rhea-AI Summary

PayPal's (NASDAQ:PYPL) Venmo has announced a strategic Name, Image, and Likeness (NIL) partnership with Penn State Quarterback Drew Allar to launch a new Penn State-branded Venmo Debit Mastercard. The initiative extends to multiple Big Ten universities, offering students and fans exclusive rewards including up to 15% cashback with select partners, a free 12-month Perplexity Pro trial, and 40% off Big Ten Plus subscriptions.

The company is also introducing Venmo Hall, a new fan experience debuting at Penn State's 'White Out' game, featuring watch parties, merchandise, meet-and-greets, and live performances. The activation will tour nationwide, visiting Michigan State, University of Michigan, and Rutgers University. This launch is supported by a comprehensive marketing campaign across multiple channels, showcasing Venmo's expansion beyond peer-to-peer payments into everyday commerce.

["Strategic expansion into college sports market through NIL partnerships","New revenue stream potential through college-branded debit cards","Enhanced brand visibility through multi-channel marketing campaign","Expansion of Venmo's services beyond peer-to-peer payments"]

Positive

• None.

Negative

• Significant marketing and promotional costs for Venmo Hall activations
• Limited initial rollout to select universities may restrict immediate market impact

Penn State's legendary 'White Out' game sets the stage for new Venmo Hall activations to engage students, alumni, and fans across iconic gameday weekends

SAN JOSE, Calif., Sept. 25, 2025 /PRNewswire/ -- Venmo, a leading social payments platform that helps people manage and move their money, today announced a new Name, Image, and Likeness (NIL) partnership with Penn State Quarterback Drew Allar, who will serve as the face of a new Penn State Venmo Debit Mastercard¹. The new special edition, college-branded debit card gives students, alumni, and fans ways to score more rewards on everyday purchases while representing their school.

Available now for Penn State, Michigan State, Rutgers University, University of Illinois, University of Iowa², University of Michigan, and coming soon for University of Washington, the Venmo Debit Cards give users access to exclusive perks and new limited-time offers, designed to enhance the gameday and school-year experience:

• Free 12-month trial³ of Perplexity Pro
• 40% off a Big Ten Plus annual subscription⁴
• Up to 15% cash back⁵ with ESPN, Fanatics, and ASOS

"From splitting meals with my roommates to paying for my off-season vacation, my Penn State Venmo Debit Card makes everyday life easy," said Drew Allar, Penn State quarterback. "Using my NIL earnings to support my team, give back to youth sports programs, and stay connected off the field during my senior year is incredibly meaningful. I'm excited to partner with Venmo to bring new experiences to Penn State students and fans – on campus, in the community, and beyond."

Allar joins a growing roster of standout athlete ambassadors for Venmo, including Sam Leavitt, NiJaree Canady, and Olivia Miles, who will showcase all of the everyday ways you can spend and earn rewards with the college-branded debit cards.

Venmo Hall Brings Fan-Fueled Activations to Gameday Weekends

Kicking off with the Penn State 'White Out' game against the University of Oregon, Venmo will debut Venmo Hall, a new fan destination for gameday weekend. The experience launches at Champs Bar in State College, running from Friday, September 26, through Saturday, September 27. Venmo Debit Card users and their friends can access an action-packed lineup of watch parties, limited-edition gameday merchandise, meet-and-greets, a live performance by DJ/producer duo Two Friends, and surprise giveaways, including game tickets and more. All these exclusive perks make the debit card a must-have for every fan who wants to be at the center of the excitement.

"College sports bring people together in powerful ways, and Venmo is proud to be a part of that tradition," said Geoff Seeley, Chief Marketing Officer, PayPal. "As Venmo expands beyond peer-to-peer payments into everyday commerce, we're showing up for students and fans in ways that feel true to campus culture. With Venmo Hall activations and the college-branded Debit Cards, we're making it simple and rewarding to split a pizza, grab gameday gear, and catch the latest game – all while unlocking exclusive experiences and showing school pride."

Following its launch at Penn State, Venmo Hall will travel to gameday weekends nationwide, with stops at Michigan State, University of Michigan, Rutgers University, and more. The experience will transform iconic matchups into unforgettable experiences that give students, alumni, and fans new ways to celebrate their school pride.

Venmo Launches New Brand Campaign on College Campuses

As part of the debut of Venmo Hall, Venmo is rolling out a new campaign featuring its NIL brand ambassadors. The campaign captures the spirit, connection, and tradition of college sports and campus life – showing how you can spend your Venmo balance on everything, from school merch to tailgate essentials, to make every moment on campus better.

The fully integrated campaign will run across culturally relevant touch points, including in-stadium, network TV, social media, streaming, podcasts, campus OOH, and audio, to help expand consumers' understanding of all the ways they can spend with Venmo. 

View the full ad here.

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 the United States. For more information, go to: Venmo.com.   

PayPal Media Relations Contact
mediarelations@paypal.com 

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. 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.

² Michigan State and University of Iowa Venmo Debit Cards are available as digital cards only.

³ Offer valid through 12/31/2025. First time Perplexity subscribers only. One per Venmo Account in good standing. After complimentary subscription period, subscription will renew at the then current rate. Terms apply.

⁴ Offer ends 1/31/2026.  One Per Venmo Account. New subscribers only. Terms apply.  After the initial Big Ten Plus Annual Pass subscription period, subscription will renew at the then current rate. You must cancel the subscription prior to the renewal date to stop the charge.

⁵ Venmo and merchant offer terms and exclusions apply. See terms at venmo.me/collegeterms. 

 

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SOURCE PayPal Holdings, Inc.

FAQ

What benefits does the new Penn State Venmo Debit Mastercard offer?

The card offers up to 15% cash back with ESPN, Fanatics, and ASOS, a free 12-month Perplexity Pro trial, and 40% off Big Ten Plus annual subscriptions.

Which universities are included in Venmo's college-branded debit card program?

The program is currently available for Penn State, Michigan State, Rutgers University, University of Illinois, University of Iowa, University of Michigan, and coming soon for University of Washington.

What is Venmo Hall and where will it be launched?

Venmo Hall is a new fan destination for gameday weekends, launching at Champs Bar in State College during Penn State's 'White Out' game, featuring watch parties, merchandise, meet-and-greets, and live performances.

Who are Venmo's NIL brand ambassadors for this initiative?

Venmo's NIL ambassadors include Drew Allar (Penn State quarterback), Sam Leavitt, NiJaree Canady, and Olivia Miles.

How is PayPal (PYPL) expanding Venmo's services with this initiative?

PayPal is expanding Venmo beyond peer-to-peer payments into everyday commerce through college-branded debit cards, campus activations, and integrated marketing campaigns targeting the college demographic.