The most obvious difference being that unlike China or India, Europe (or the EU) is not a single country. This doesn't make things impossible but certainly complicates them.
The sensible thing would be to do it by currency area - e.g. the Eurozone.
Technology and some systems could be shared.
Exactly, now that the internet is ubiquitous, none of the problems with replacing credit card companies like VISA are really technical. They are regulatory, they are political, they are social.