The sensible thing would be to do it by currency area - e.g. the Eurozone.

Technology and some systems could be shared.

Then we could have an international standard to let the national networks work together, like for the phone network.

Yes, common standards would solve the technical problem.

There are also business and regulatory problems with regard to international transactions.

Same with phone networks. Since India got serious about blocking spam, it has some strict requirements to call into the country.