In response to the newly enacted "Fund Transfer and Payment Services Act of Japan", the OpenID Foundation Japan has announced the formation of the "Payment Working Group (WG)" on December 8, 2009. The Payment WG consists of 14 member companies and aims to create whitepapers on ”Guidelines for Secure Management of Information”, “Guidelines for Outsourcing” and “Guidelines for Identity Verification and Authentication” as well as the best practice and profiling document for implementing fund transfer and payment service built on OpenID. Currently, only depository financial institutions such as banks are allowed to provide fund transfer service. The situation is going to change by this act taking effect in 2010. After that time, anybody who complies with certain conditions can start providing funds transfer service. The aim of this WG is to promote OpenID as the foundation for such services by establishing industry backed recommendations on profiles of OpenID.