Purdue University, a Teamworks Elite partner, is leveraging the changes in collegiate athletics as an opportunity to evolve and innovate. 

Most recently, Purdue and the Boilermaker Alliance – one of the most prominent NIL collectives in the Power 4 – became one of the first institutions to launch Teamworks Wallet, a digital banking service for student-athletes.

The success of this rollout at Purdue serves as a blueprint for other institutions grappling with the complexities of NIL management. It illustrates how technology, when thoughtfully implemented, can create a win-win situation for athletes, administrators, and collectives alike.

«Wallet simplifies finances for student-athletes. From receiving payments, eliminating processing fees, to saving for taxes, we’ve seen firsthand how Wallet can empower their long-term financial success.»

Jahvae «Jay» Giddens, Director of NIL Engagement at Purdue Athletics shares,

The Direct Value to Purdue’s Student-Athletes

Teamworks Influencer data reveals the staggering scale of NIL activity across Power 4 (P4) institutions: 

• On average, P4 institutions process millions of dollars in NIL deals annually. 
• The average NIL deal across P4 institutions is approximately $4,191. This substantial volume and value of transactions underscore the critical need for an efficient, cost-effective payment solution in collegiate athletics.

Typically, NIL transactions across marketplaces incur payment processing fees between 2-5%, in addition to costly platform fees that can amount to up to 30% extra on top of the total deal value. These fees can significantly eat into the earnings of student-athletes and the budgets of collectives and brands.

To put this into perspective, let’s consider a hypothetical scenario: If 250 student-athletes all received a $4,000 payment per month, and the collective or brand paid through a marketplace that charges a standard processing fee of 3% plus 5% for platform fees (which Influencer does not take any fees), that’s more than $980,000 in fees the collective or brand would be paying instead of reinvesting into athletes or supporting more athletes on campus.

With Wallet, there are no payment processing fees or platform fees, and funds are deposited immediately into their Wallet cash account – saving their hard-earned money and leaving behind the frustration of waiting for their payments.

«By adopting Wallet, we’re demonstrating our commitment to maximizing NIL opportunities and ensuring a smooth, efficient process for our athletes. It’s a crucial step in enhancing the NIL experience at Purdue.» – Jay Giddens

The first phase of Wallet’s rollout at Purdue proved to be a wild success for student-athletes, with 95% adding their Teamworks Wallet Visa debit card to Apple Wallet for digital payments and over 160 transactions within the first two weeks of receiving their card. The ease of use, fast application process, and mobile-friendly experience were highlights frequently mentioned by the student-athletes.

Bridging the Gap Between Opportunity and Execution

Boilermaker Alliance, instrumental in cultivating NIL opportunities for Purdue’s athletes, has found in Teamworks Wallet a solution that aligns with its mission to support student-athletes effectively. The platform’s integration between Influencer and Wallet has streamlined payment processes, enhanced transparency, and improved overall efficiency in managing NIL transactions.

“Providing athletes instant access to funds through Wallet without processing fees has been a huge advantage. This streamlined process has been transformative for Boilermaker Alliance and Purdue’s NIL management.»

 Madison Allgood: Director of Strategic Growth at Boilermaker Alliance

«With Teamworks Wallet, we’re not just facilitating payments; we’re fostering our athletes’ entrepreneurial endeavors. The platform’s transparency and efficiency have elevated our NIL program, ensuring we’re compliant and empowering financial literacy and responsibility among our student-athletes.”

Tom Mitchell: Senior Associate Athletics Director – Compliance

Empowering Athletes Beyond the Game

For Purdue’s student-athletes, Wallet is more than a convenient payment method—it’s a gateway to financial empowerment. The platform offers high-yield savings accounts, helping athletes grow their finances, provides seamless tax reporting, and automatically tracks transactions, ensuring greater compliance with NCAA regulations.

«Teamworks Wallet has transformed how I think about my finances. It’s not just about receiving payments faster; it’s about learning to budget, save, and invest. These are skills I’ll carry with me long after I graduate from Purdue.»

A Purdue Football Student-Athlete

Looking Ahead: The Future of NIL in Collegiate Sports

By embracing Teamworks Wallet, Purdue has set a new benchmark for how universities can support their athletes—combining financial empowerment with athletic excellence. The ripple effects of this initiative extend far beyond Purdue, influencing how institutions nationwide navigate NIL opportunities.

This is more than solving a logistical challenge. Purdue is opening a new chapter in collegiate sports where technology, education, and athletics come together to create opportunities that were once unimaginable.

Join the Wallet revolution and be part of the future of collegiate sports.