The USA has been threatening the EU with withdrawal of Visa and Mastercard processing. This is a big stumbling block and could explain why the EU is hedging its bets. There is a plan for a EU wide payment processer back end (there are already lots in place in most eu countries, but they don't join up yet)
Central bank aims to introduce the tokens in 2029 but parties in the European parliament are divided
www.irishtimes.com
Edit: It looks like they have settled on wero to be rolled out eu wide.
Wero is set to become Europe's first sovereign payment solution as a key rival to Visa and Mastercard. Its rapid expansion and access to the Single Market positions it as a strong alternative to the US-based networks.
www.euronews.com
Brazil did this a little while ago with its PIX platform, India has UPI since 2018.
PIX is apparently very well implemented. the existence of the PIX system was one of the reasons of the Trump tariff craze against Brazil a few months ago, he mentioned specifically the "threat to the American banking system" when he announced the extra tariffs.
Double Edit:
Just saw a video about India's digital payment system. They jumped from 80% cash usage to like more than 50% of the population using a digital payment system on a daily basis. They totally skipped credit cards. All you need is a smart phone and shops all have QR codes at the cash registers. Some countries are trying to interface with UPI so tourists visiting each others countries and easily pay without have to deal with currency exchange.
After UPI launched Visa and MasterCard lost virtually all market share, because the UPI is government run with no fees. Credit cards still have a place because UPI currently debit based. Which means you need to have cash in your account for the payment to process.