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Apple's much anticipated system that lets iPhone 6 owners pay simply by tapping their phone will launch this Saturday, it has been claimed.

A leaked Walgreens memo shows staff being trained for the new system.

It is set to be announced on Thursday at a special event where Apple will also reveal new iPads and new ultra high definition Mac desktop machines.

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The system was first announced on September 9th, and is expected to be made available to consumers this weekend.

'According to the Walgreens memo, customers who have an iPhone 6 will be able to use Apple Pay in Walgreens stores by tapping their devices 'to the upper portion of the pinpad to pay for their purchase'' website MacRumours said.

As announced on September 9, popular drug store Walgreens is one of Apple's major launch partners, along with other companies like McDonalds, Macy's, Staples, and more. 

The service will also be available on Apple Watch.

9to5mac also found screenshots of the system in use, showing how it works.

The mobile system works by holding phone up to a generic card reader and pressing a finger on the TouchID button.

The NFC chip is fitted across the top of the phone.

All details are encrypted and the system stores payment information securely.

It uses the Passbook app and cards that are already on file with iTunes can be saved to it.

Users can also take a picture of their own credit card and add it to the account. 

This is verified by the card's bank before being accepted.

The cards are stores in the passbook app already used for boarding passes and tickets. Users can see their recent transactions in the app, and switch between cards easily.

If an iPhone is lost, users can suspend all payments via the Find my iPhone service. 

This won't cancel the cards, either, because the card details themselves are not stored on that device.

'Apple doesn't know what you bought, where you bought it, and how much you bought it for,' said Apple's senior vice president of internet software and services Eddy Cue.

The firm has only said it will be launched in the US in October, and Apple said it is 'working hard' on bringing it to the UK, although a date has yet to be announced.

The Cupertinpo-based firm says it's easier and more secure than using a credit or debit card. 

To add a card, a user will take a picture of it with their iPhone and send it to an Apple data centre.

There it will be verified it with their bank before it gets added to the user's Passbook.

The service will be able to store Visa, MasterCard and American Express credit card information. Apple said shops like Macy's and Bloomingdales, drugstores including Walgreen's and Duane Reade, and other stores including McDonald's, Staples, Subway and Whole Foods are participating in Apple Pay.

However, it is unclear how the image is stored securely on the phone and how it is transmitted to prevent a criminal from intercepting it public Wi-Fi.

Apple's Eddy Cue said credit card information will be stored on the phone via a secure chip and payments will use a one-time security code.

The Find My iPhone service can erase the data if the phone gets lost or stolen - cancelling a card will not be necessary.

The service will be able to store Visa, MasterCard and American Express credit card information.

'A cashier doesn't see your name, credit card number or security code,' when you pay with Apple Pay, Cue said. 

He also said Apple won't track people's financial data.

'Apple doesn't know what you bought, where you bought it or how much you paid,' he said. 'That transaction is between you, your merchant and your bank.'

Apple said shops like Macy's and Bloomingdales, drugstores including Walgreen's and Duane Reade, and other stores including McDonald's, Staples, Subway and Whole Foods are participating in Apple Pay.

But some of the largest retailers are not participating. Wal-Mart said it has no plans to participate. Amazon.com did not respond to a request for comment. And Target said it is currently participating only via its app.