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Apple Pay is making its way to stores this week - Oct. 13, 2014

Apple Pay is making its way to stores this week

October 13, 2014: 1:28 PM ET
Apple Pay turns iPhone into credit card
NEW YORK (CNNMoney)

Get ready to start paying for things with your phone -- at least, if you've got one of Apple's latest devices.

The tech giant's new Apple Pay system is set to launch for retailers on Saturday, according to a leaked memo from Walgreen's posted by MacRumors.

Walgreen's (WAG) is among the group of big retailers that Apple (AAPL, Tech30) has already announced will support Apple Pay from its launch. Others include Bloomingdale's, Macy's (M), McDonald's (MCD), Staples (SPLS) and Whole Foods (WFM).

Related: Apple's plan to change how you pay for everything

Apple declined a request for comment; Walgreen's did not immediately respond.

Apple Pay will let iPhone 6 and iPhone 6 Plus owners spend money at participating stores simply by using their phones' fingerprint scanner then holding the device up to the register.

Want to pay for something in an app? Just tap "Pay with Apple Pay," put your finger on the fingerprint reader, and you're done. The charge goes straight to your credit or debit card -- whatever you've set up with Apple.

Related: Apple just got its mojo back

Apple Pay works by sending payment information via short-range radio waves. The message goes from a special chip inside the iPhone 6 to the register. It's called NFC, short for Near Field Communication.

That neat feature is already on lots of Android, Windows Phone and BlackBerry devices and works with Google Wallet, Softcard, PayPal and other services. An estimated 220,000 retail stores already have NFC devices at the register.

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