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.