"POSTAGE" inscription or not, Seahorses were used fiscally, and used that way often enough. An example:

But postage/revenue use gets even more complicated. You may have seen £1 Victoria or Edward VII stamps each with a neatly struck socked-on-the-nose Guernsey or Jersey CDSs (both might exist, not sure at the moment). These are genuine usages. However, postage and revenue/fiscal fees were paid with the one stamp, with the fiscal charges far exceeding the cost of postage. They are collected as postally used. These are not to be confused with the forged £1 Edward VII "postmarked" from the Channel Islands.