Zip Co Limited (ZIP), a buy-now-pay-later (BNPL) fintech provider, demonstrates compliant income ratios but fails critical financial screens due to excessive debt (108.93%) and liquidity (92.35%) relative to market capitalization. The business model raises minor concerns over potential riba in fee structures, though non-permissible income is negligible at 0%. Exclusion from all major Shariah indices confirms NON_COMPLIANT status, with purification required for the minor interest income component. Investors in its industry should evaluate Islamic fintech alternatives for stronger compliance alignment.