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do you have your credit card linked to paypal?
Or did you have money on your paypal account and used those?
Then it's because your bank hasn't transferred the money from your credit card to steam.
The way you pay "instantly" (not available with all banks) is that the bank pays FOR YOU (accountable sum), then substracts the same amount of money from your credit card (money available, or sum available).
Fyi, some banks do all of the transactions of 1 week in 1 day, instead of doing them as soon as possible (usually small banks)
My bank is the "instant" kind, your bank is the "not instant" kind, which doesn't pay for you.
edit: credit card linked to paypal means you ask your bank to give money to paypal, and paypal gives money to steam, so it could be paypal where your money is currently stuck.
Just check your credit card balance, if it has an "accountable sum" and the "sum" is the price of what you wanted to buy, then it means it should have reached steam already.
Anyways if money is substracted from the credit card then it will appear in your inventory sooner or later.
https://help.steampowered.com/en/wizard/HelpWithPurchase
did you check your paypal history?
If nothing there, then simply buy that thing again.
Also, if you have 20 euro on your credit card, and you want to add 20 euro steam wallet, THROUGH PAYPAL, that won't happen, because paypal takes a certain sum of the total transaction.
For example:
You want to add 20 euro steam wallet to your steam account
You want to do it from a credit card that has 20 euro on it, through paypal.
Paypal will take 5 euro as a transaction fee (this is an example, idk what the rate is)
You cannot add 20 euros steam wallet because of the above fee
You can however add 15 euros steam wallet
Also, in case this happens again, you could contact steam support and ask them about what could be causing this.
Are they not receiving the money from paypal?
If they don't then ask paypal: Are they not receiving the money from your credit card?