SAN JOSE, Calif. — PayPal is reporting it has integrated PayPal and Venmo with three major education payment platforms, allowing students and their families to use the services to pay college tuition and fees.
PayPal said the integrations involve Illumia, Nelnet Campus Commerce and TouchNet, which collectively provide payment services to thousands of colleges and universities across the United States.
The payment options are already available at institutions including Bellarmine University, Butler University, Kansas State University, Michigan State University and Texas Tech University. PayPal said additional colleges and universities are expected to offer the services during the year.
The Funding Options
Students and families at participating institutions can use PayPal or Venmo to make tuition and fee payments through existing campus payment systems. Funding options include bank accounts, credit cards and PayPal or Venmo balances, according to the company.
The expansion builds on PayPal’s efforts to increase its presence on college campuses. PayPal and Venmo reached agreements last year with the Big Ten and Big 12 conferences that included enabling institutional revenue-sharing payments to student-athletes through the company’s platform.
Venmo has also expanded its college presence through name, image and likeness partnerships with student-athletes, college-branded cards, student ambassador programs and game-day promotions.
‘One of Biggest Payments’
“Tuition is one of the biggest payments a family will make, and it should come with the same flexibility and security that millions of people already count on PayPal and Venmo for every day,” Frank Keller, president of Checkout Solutions and PayPal, said in a statement.
PayPal said tuition payments made through PayPal and Venmo include security features used for other transactions, including encryption and fraud monitoring.
The education payment companies said the integrations are intended to give consumers more payment choices without requiring colleges and universities to establish separate payment processes.
