FOUR
Shift4 Payments, Inc.
Is FOUR Halal?
Payment processing and commerce technology — permissible payments infrastructure business.
What You Should Know
Shift4 Payments is a US payment-processing and commerce-technology company serving restaurants, hospitality, stadiums, and enterprise merchants with integrated point-of-sale, payment-processing, and commerce-management software. Payment processing and commerce software are generally treated as permissible infrastructure by many Sharia boards, although scholars differ on merchant-acquiring and credit-card facilitation. Its March 31, 2026 10-Q reports $4.522 billion of debt against $8.757 billion of assets, so the examined total-assets debt screen fails.
⚠️ Concerns
- •Debt/assets is 51.64% in the latest 10-Q, above the examined total-assets limits
- •Merchant-acquiring and payment-processing businesses facilitate credit-card transactions; scholars differ on this activity
- •Some gaming and lottery merchant exposure via stadium and entertainment-venue processing
- •Disclosed interest income is $5 million (0.45% of quarterly gross revenue); no fixed purification percentage is asserted
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
4,522 / 8,757
473 / 8,757
1,167 / 8,757
5 / 1,121
- Financial
- Fails
- Overall
- Fails
Debt/assets is 51.64%, above the examined 33.33% limit; liquidity/assets is 5.40%, receivables plus cash/assets is 13.32% and interest income/revenue is 0.45%.
- Financial
- Fails
- Overall
- Fails
Liquidity, receivables-plus-cash and disclosed interest income pass examined limits, but debt/assets fails the total-assets screen.
- Financial
- Fails
- Overall
- Fails
Debt/assets is above the examined Malaysia SAC asset limit despite low liquidity and receivables-plus-cash; this is not an official SAC classification.
- Financial
- Not calculated
- Overall
- Not calculated
No licensed historical market-cap series is stored.
Business-activity disclosure
Shift4 provides payment processing, merchant acquiring, point-of-sale software and commerce technology for restaurants, hospitality, stadiums and enterprise merchants. Payment infrastructure is generally treated as permissible by many boards, while credit-card facilitation and gaming/lottery merchant exposure remain qualitative issues.
Limitation: The filing does not allocate revenue into a universal prohibited-activity numerator by merchant category.
Purification
The filing discloses $5 million of interest income, or 0.45% of quarterly gross revenue; ZakatInvest does not prescribe a fixed scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Shift4's March 31, 2026 Form 10-Q.
- Debt is $4,522 million, comprising $10 million current debt and $4,512 million long-term debt.
- Cash is $473 million and accounts receivable is $694 million; settlement assets are excluded from cash and receivables to avoid double counting.
- Gross revenue is $1,121 million and disclosed interest income is $5 million.
- Payments-based revenue is $917 million, TFS revenue $102 million and subscription/other revenue $102 million.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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