Why does Apple want to compete with Square and Venmo?

Recode’s Jason Del Rey talks with Kara Swisher and Lauren Goode about Apple’s latest discussions with payments industry partners about launching a money transfer app. The service would compete with existing products like Square Cash and PayPal-owned Venmo, but Del Rey says there’s plenty of room for new entrants. Apple is hoping to reach the people who still choose to pay each other with cash or checks, or use their banks’ official apps, and also to drive adoption of Apple Pay. Later on the podcast, the trio answers your questions about peer-to-peer payments services, and how Apple might carve out its share of the market.