Payton played two seasons at Salt Lake Community College in Salt Lake City, Utah. During his sophomore season at Salt Lake CC, he signed a letter of intent to play for his father's alma mater, Oregon State, under coach Craig Robinson. Robinson was fired before the start of the 2014–15 basketball season and was replaced by University of Montana head coach Wayne Tinkle. Despite losing their top five scorers from the previous season, Pac-12 coaches picked Oregon State to finish 12th in the 2014–15 season. However, the up-tempo Beavers finished 7th with a 4–1 record against the conference's top three teams, Arizona, Oregon, and Utah. In their game against Grambling State, Payton recorded 10 points, 12 rebounds, and 10 assists, becoming only the second Beaver ever with a triple-double in a game. His father, Hall of Famer Gary Payton, is the other Beaver with a triple-double when he had 20 points, 14 rebounds, and 11 assists against the University of Portland in 1988.

During his first season at Oregon State, Payton led his team in multiple categories, including scoring, rebounds, and steals. On March 9, 2015, Pac-12 coaches voted Payton to the All-Pac-12 First Team, All-Pac-12 Defensive Team, and named him the Pac-12 Defensive Player of the Year. The following year, he was named one of 10 finalists for the Bob Cousy Award for top point guard of the year and was named to the 35-man mid-season watchlist for the Naismith Player of the Year.

Despite going undrafted in the 2016 NBA draft, Payton continued to work hard and showcase his skills, eventually earning a spot on the Milwaukee Bucks' roster in 2016. He has since played for several other teams, including the Los Angeles Lakers, Washington Wizards, and now the Golden State Warriors. Payton's college experience and success at Oregon State helped set the foundation for his professional career, and he continues to make a name for himself in the NBA.