16 banks in Europe just announced the European Payment Initiative (EPI) to tackle retail payments.
In November 2019 the Eurosystem relaunched its retail payments strategy, calling for increased collaboration between European stakeholders to provide payment services that meet the needs of European customers and strengthen the autonomy of the European retail payments market
European Central Bank, PR July 2 2020
What are the drivers? The ECB asked banks to do it… thats just about it.