Is Visa Stock Halal?
Visa Inc. · V · NYSE
Visa Inc. (V) does not pass Shariah screening: its core business fails the activity screen (visa operates the world's largest card payment network). It is not held by Shariah-screened ETFs SPUS or HLAL. Screened alternatives exist in the same sector — see the halal stock screeners and ETF guides below.
Financial data as of 2026-03-31 · Screening basis: AAOIFI · Last reviewed 2026-06-14
Our Analysis
Visa is one of the most debated names in halal investing, and honest coverage requires showing both sides. The case for permissibility: Visa is a network, not a lender. Its fiscal 2025 10-K shows $40.0 billion of net revenue earned from service fees, data processing, cross-border transaction processing, and value-added services. Visa states that issuing banks, not Visa, extend credit and collect interest from cardholders. On that basis, the major retail screeners that apply AAOIFI methodology, including Zoya and Musaffa, currently classify Visa as Shariah-compliant, and Islamicly's research reaches the same conclusion.
The case for caution: a meaningful share of the payment volume Visa monetizes flows over interest-bearing credit cards, and some scholars view operating the infrastructure of conventional credit as impermissible facilitation of riba even when the company itself earns only fees. It is notable that the two largest US Shariah ETFs do not hold Visa: it is absent from the SPUS holdings (S&P 500 Shariah Industry Exclusions methodology) as of June 11, 2026, and from HLAL's SEC-filed schedule of investments as of February 28, 2026. Index providers like S&P and FTSE classify Visa within financials and exclude it at the sector-screen stage, while stock-level screeners that look through to actual revenue sources pass it.
For a Muslim retail investor, the practical takeaway is that this is a genuine difference of professional opinion, not a settled verdict. If you follow Zoya or Musaffa, Visa screens as halal today; if you prefer to mirror what the Shariah index funds hold, Visa is excluded. Either way, compliance status can change with each reporting period, so verify against a current screener before buying.
Business Activity Screen
Visa operates the world's largest card payment network. Per its fiscal 2025 10-K (year ended September 30, 2025), net revenue of $40.0 billion comprised service revenue ($17.54B), data processing revenue ($19.99B), international transaction revenue ($14.17B), and other revenue ($4.05B), reduced by $15.75B of client incentives. Visa earns fees on payment volume and processed transactions; it does not issue cards or extend credit itself.
Visa's 10-K states its revenue is generated from payments volume and processed transactions, and that issuing banks (not Visa) set and collect interest and fees from cardholders. Visa reports no interest income from lending as a revenue line; its revenue components are service, data processing, international transaction, and other (mostly value-added services and license fees). The Shariah question is not Visa's own revenue lines but whether operating the rails for interest-based credit cards constitutes impermissible facilitation. AAOIFI-methodology screeners (Zoya, Musaffa, Islamicly) treat the network fee model as permissible. By contrast, the S&P 500 Shariah Industry Exclusions index tracked by SPUS and the FTSE USA Shariah index tracked by HLAL do not currently include Visa.
Financial Ratio Screen
| Screen | Value | AAOIFI limit | Result |
|---|---|---|---|
| Interest-bearing debt / market cap | 3.9% | < 30% | Pass |
| Cash + interest-bearing securities / market cap | 2.3% | < 30% | Pass |
| Impermissible income / total revenueNot determinative — this verdict is set by the business-activity screen, so the impermissible-income line does not change the outcome. | — | < 5% | Under verification |
Spot market cap at research date (consider trailing average for borderline names). Data as of 2026-03-31 · thresholds per AAOIFI Shariah standards.
This verdict uses the AAOIFI standard — the most widely used and, at a 30% debt limit, the most conservative mainstream Shariah standard. Interest-bearing debt and interest-bearing securities each stay under 30% of market cap, and impermissible income under 5% of revenue. Other standards (Dow Jones Islamic, S&P Shariah, MSCI Islamic, FTSE Yasaar) use ~33% limits or screen against total assets, so a borderline company can be rated differently by each. How we screen & why screeners disagree →
Scholars' & Screeners' Positions
Published positions, cited as stated. Screeners can reach different conclusions on the same company because of ratio timing and methodology differences — we report the disagreement rather than flatten it.
SP Funds S&P 500 Sharia ETF (SPUS)
Not held in SPUS as of 2026-06-11. Absence can reflect screen failure or index scope — verify before citing as a screen outcome.
Source →Wahed FTSE USA Shariah ETF (HLAL)
Not held in HLAL as of 2026-06-11. Absence can reflect screen failure or index scope — verify before citing as a screen outcome.
Source →Zoya
Shariah-compliant (AAOIFI methodology); Zoya's stock page reports V as compliant and its blog lists Visa among top-rated halal stocks, noting it earns transaction and data processing fees rather than lending or charging interest.
Source →Musaffa
Classified HALAL as of February 2026 based on Musaffa's AAOIFI-based business activity and financial ratio screens (report source: 2026 Q1 report).
Source →Islamicly
Deems Visa Shariah-compliant; its research article argues payment processors collect a service fee for moving money and pass both sector and financial-ratio screens.
Source →Amana/Saturna
Visa does not appear in the Amana Growth Fund holdings as of 2026-02-27 (an actively managed, concentrated fund of ~31 positions, so absence is not necessarily a screen verdict).
Source →
What to do instead
You don't have to choose between investing and your values — screened alternatives exist for nearly every position.
Related guides
Consider Consulting an Islamic Scholar
Major whether Visa Inc. is halal decisions often involve nuances that vary by scholarly opinion and personal circumstance. While HalalWallet provides educational comparisons and tools, we are not scholars or financial advisors. For personal guidance on Shariah compliance, consider speaking with a qualified Islamic scholar, your local imam, or a Shariah-certified financial advisor familiar with your situation.
Important: HalalWallet is an educational comparison platform. We do not provide financial, legal, or religious advice.
Product structures and Shariah-compliance oversight vary by provider. Before applying:
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Frequently Asked Questions
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-06-01
- V latest quarterly filing (balance sheet 2026-03-31)
- AAOIFI Shariah Standards
- Visa Q4/FY2025 earnings release (SEC EDGAR, 8-K exhibit)
- Visa FY2025 annual report financials (company IR)
- SPUS holdings (SP Funds)
- HLAL Schedule of Investments 2026-02-28 (SEC EDGAR)
- Zoya compliance page for V
- Musaffa compliance page for V
- HalalWallet Methodology
- Editorial Policy
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Editorial Team, HalalWallet
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