About us
Best Payment Startup Innovation
Asia-Pacific 2025
Australian Tech Competition
2025
The story behind WageTab
WageTab is a product of Clearitt Group
— built on the same infrastructure that underpins modern institutional financial settlement.
WHY
Not that long ago, business ran on trust and a handshake — you traded with people you knew, and settled up when it suited you both. WageTab is built to bring that back, at scale.
Every business owes and is owed money at once — but instead of chasing each other about gross cash transfers, we can learn from the large financial institutions. They aggregate payments, like bulk payables and bulk receivables, and net them bulk amounts off, with cash transfers only required for the net balances.
If the local community can work together in that way, local businesses and wage earners can benefit in the same way. WageTab is providing that payments infrastructure.
HOW
WageTab was founded by Dr Richard Johnsson — economist, former private banker, and the person who asked the obvious question nobody had answered: why can’t everyday businesses and wage earners access the same financial breathing room that large institutions already have?
With a doctorate in economics and two decades of financial services experience across six countries, Richard had seen both sides of the equation — the institutions that already used bulk netting, and the local businesses that never had access to it.
“I kept seeing people and businesses struggling with cash flow problems that didn’t need to exist. The solution had been sitting in the banking system for 200 years. It just needed to be made available to everyone. And if I don’t do it, who will? It’s all so simple. And simplicity is the last step of wisdom, as the saying goes.” — Dr Richard Johnsson, Founder & CEO
WageTab is the result — a free platform built on the same mechanism that underpins the global banking system, redesigned from the ground up for Australian businesses and wage earners of every size.
WHAT
WageTab gives businesses a tab and an invoice — running totals for everyday purchases and invoiced work, settled in bulk each week. What you owe is netted against what you’re owed, so only the difference ever needs to get transferred as cash.
It gives wage earners a tab too — everyday spending netted off against wages at payday, building a buffer without any debt.
“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.”
— Buckminster Fuller
Dr Richard Johnsson
Founder & CEO
Our logo is Jera — a rune from the Viking age, still carved on stones across Scandinavia. It means harvest: the principle that patient, honest work returns abundance in kind.
Our founder Richard grew up in the heart of Viking country — Uppland, Sweden, where rune-stones still stand in the fields and the forests, and where the runic alphabet was in everyday use as recently as the early 1900s. When it came time to choose a symbol for WageTab, he didn’t have to look far.
Two chevrons, facing opposite directions. When netting things off, they meet in the middle — and only the difference settles.
We thought that was worth building a company around. Even in Australia.
That’s WageTab in a rune.
