Worth noting that credit card processors do take on credit risk, which for "normal people" is, sure, basically negligible. But black swan events (covid, for example) and fraud attacks (card cashers etc etc) are major issues.

This might be mitigated by the dominant form of payments in the regulated marks you mentioned being debit cards, which in some ways flips the equation on risk around.

However, this might not sit well with consumers. Lots of people in the US like credit cards because of the substantially superior risk profile they present (to the cardholder).