Brent Chapman learned a valuable lesson from his 12-year-old son.
"I was at a football camp with my son," MyNILpay CEO Brent Chapman says. "I'm talking to the athletes that are helping out. They're talking to me about their NIL experiences. My son says to me, he goes, 'Dad, this doesn't seem right, this should be better.,"
Thus he began the app, MyNILpay.
"All 500,000 student-athletes are pre-loaded. Every school, every sport, every athlete," Chapman says. "From Carthage College to Marquette to the University of Wisconsin."
You can reward your favorite college players.
"I wanna pay Braelon Allen, right?" Chapman says. "And I want to send him, I saw him score a touchdown and I thought it was really cool and I want to send him $20 to thank him, show my support for him. So I put in 20 bucks. And it sends an email to his edu email address. It says Brent sent you $20. He puts in his checking account information. That's it, he gets his 20 bucks. It's Venmo of NIL."
Chapman is a 2001 Carthage College grad and recently presented his innovations at a sports management conference on campus.
And educates athletes on not thinking it's a get-rich-quick scheme.
"We really encourage them to learn how it works," Chapman says. "Really ask the right questions. I feel really proud because we've actually helped some athletes identify some situations in advance."
Chapman says it's important to note, 97 percent of college athletes go pro in something other than professional sports.