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"Development of Final Fantasy VII began in 1994 and the game was originally intended for the SNES , but it was later moved to the Nintendo 64 . As the system's cartridges lacked space, Square decided to release the game for Sony's PlayStation instead." http://en.wikipedia.org/wiki/Final_fantasy_7

It was a coin toss between the Playstation and the Sega Saturn .If Soft decided to put their masterpiece on the Saturn, Sony's reign of dominance that lasted for over a decade would have been cut short with Sega taking its place .

Theres no "if" for Nintendo they stubbornly wanted to stick to cartridges and.....well the rest as you all know is history.

Square announced on 01/12/1996 it would be developing Final Fantasy VII for the Play Station

Sega Saturn was released 05/11/1995

Sony PlayStation was released 12/03/1994