Payment Stack Fragmentation Accelerates as Tokenization Hits 40% and AI-Native Infrastructure Emerges
Mastercard's Q4 2025 results reveal a payment industry in structural transition: tokenization now covers 40% of all transactions while FX volatility headwinds compress legacy revenue streams. The divergence between incumbents defending margin and AI-native fintech infrastructure signals a bifurcated market that traders and investors cannot ignore.
ViaNews Editorial Team (Markets)•