The commercialization of a solar technology necessitates the fulfillment of specific requirements both regarding efficiency and stability to enter and gain space in the photovoltaic market. These aims are heavily dependent on the selection of suitable materials, which is critical for suppressing any reliability risks arising from inherent instabilities. Focusing on the absorber material, herein the most suitable low bandgap lead‐tin composition candidate for all‐perovskite tandem applications is investigated by studying their degradation mechanisms with both widely available and advanced characterization techniques. Three irreversible degradation processes are identified in narrow bandgap Pb‐Sn perovskite absorbers: 1) Tin (Sn) oxidation upon air exposure, 2) methylammonium (MA) loss upon heat exposure, and 3) formamidinium (FA) and cesium (Cs) segregation leading to impurity phase formation. From an industrial perspective, it is proposed to refocus attention on FASn0.5Pb0.5I3 which minimizes all three effects while maintaining a suitable bandgap for a bottom cell and good performance. Moreover, a practical and highly sensitive characterization method is proposed to monitor the oxidation, which can be deployed both in laboratory and industrial environments and provide useful information for the technological development process, including, the effectiveness of encapsulation methods, and the acceptable time windows for air exposure.