Instant settlement. The new systems usually run at the level of the reserve currency, or highest national bank.

In Australia the system is the NPP, and the public face is Osko/PayID, so you can use an email or mobile identifier to instantly transfer money between people's accounts. Australia is rolling out PayTo, which is a B2C form of direct debit, which is revocable by the customer but allows for subscriptions and other payments.

The next step will be offering a bank account with PayID/PayTo, a contactless form of payment stored in a Google/Apple/Samsung Wallet, and a line of credit.

Which is all that a credit card is.

This announcement is about similar national systems evolving into cross-European payments. So an instant payment from a French bank account to a Spanish bank account via contactless payment terminal without using the Visa/MC "rails". In Thailand it's promptpay