It's a joke but Visa and Mastercard are American corporations so Americans can feel relatively secure using them. If you live in another developed country, relying on the whims of American entities feels less secure than something subject to the laws of your own country.
Americans are pretty aware that government by large, multinational, unaccountable corporations sucks and has basically all of the downsides of big government without any of the accountability upsides.
American media may be less likely to share that narrative with you. But the actual people figured this out a while ago and they're mad.
I'm American, and I wasn't offended. Because it's true, we actually can't comprehend this because we are the poster child of government via huge corporations. We literally don't know what it's like to have a functioning and trustworthy government handling these things, it's completely foreign to us.