What do you mean? How it cannot? In Europe's context, 60's and 70's, was a collection of fractured dozens of small countries each with its own currency. US had a single currency which was also world's reserve currency so every major bank on this planet already had to build technical and legal pipelines to handle global trade. On top of that you had US omnipresence in post WW2 Europe and world for that matter. American payment networks were the fastest and obvious place to build payment networks across all those borders which was then also a footing ground into intra-market payments. As I said - geopolitics, dollar, network effect in that order. Can't have one without the other.
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What do you mean? How it cannot? In Europe's context, 60's and 70's, was a collection of fractured dozens of small countries each with its own currency. US had a single currency which was also world's reserve currency so every major bank on this planet already had to build technical and legal pipelines to handle global trade. On top of that you had US omnipresence in post WW2 Europe and world for that matter. American payment networks were the fastest and obvious place to build payment networks across all those borders which was then also a footing ground into intra-market payments. As I said - geopolitics, dollar, network effect in that order. Can't have one without the other.