Company Information

Get to know Heritage Bank PortaPOS

Heritage Bank Plc was a Nigerian commercial bank that offered a full range of banking services, including retail, corporate, public sector, and SME banking. The bank was formed through the acquisition of the assets and liabilities of the defunct Societe Generale Bank of Nigeria. One of its key fintech products was "PortaPOS" (Portable POS), a service that allowed merchants to use their own mobile phones or tablets as secure POS terminals for card payments. However, on June 3, 2024, the Central Bank of Nigeria revoked the bank's operating license due to its inability to improve its financial performance, which was deemed a threat to the country's financial stability. The Nigeria Deposit Insurance Corporation (NDIC) has been appointed as the liquidator.

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Financial BankingPRIMARY
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Heritage Bank PortaPOS

Nigeria

Founded in

2013 (13 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

Others

--/10

Reviews

49/90

18 reviews

Provided by TrustFinance

OVERALL SCORE

Others

--/10

Reviews

49/90

18 reviews

Provided by TrustFinance

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.