[bostik]

See SEPA payments in EU: https://en.wikipedia.org/wiki/Single_Euro_Payments_Area

Or UPI in India: https://en.wikipedia.org/wiki/Unified_Payments_Interface

So to answer your question: with law on your side. You limit price gouging, and mandate interoperability with a cheaper system.

[arcticbull]

SEPA is roughly the same as FedNow, which is has been live for almost 8 months now.

It's not comparable to VisaNet.

[kgwgk]

That’s an example of regulation - not of a central bank providing anything.

[RandomLensman]

TARGET, i.e., cross-border interbank, is operated by the European central banks