Mobility app Hannk Ltd. announced a long term collaboration with Cardoo, a financial software provider, to integrate alternative ways customers can leave a deposit when renting a vehicle. Once integrated, Hannk will become the central gateway for Cardoo's services, offering a plug and play API solution to car rental companies seeking to take deposits from customers and use other financial products released by the software provider.

“Deposits have always been a topic of conversation within the car rental industry, should they be done by pre-authorisation, should they be fully paid," said company Chairman Mr. Rick Little in the statement. "On the one hand the car rental companies want to ensure that they have access to the funds should damage occur to the vehicle during a rental, on the other hand customer does not want to leave the monies, afraid that they will never get it back or that it limits their spend power whilst on holiday. We look forward to the release of this service within a few months and working with Cardoo on many high level projects”

"We are delighted and excited to partner with Hannk team, added Dan Ivanov COO of Cardoo. "Products they have created over the years, including Hannk, prove their huge experience and international expertise on car rental market and digital services market in general. We are sure that by combining their experience with our capabilities and knowledge in finance we can make unique proposals for customers, simplifying existing processes."