While London's iconic black cabs fight for survival against the wildly-popular growth of Uber, at least they're making it easier for their passengers to pay for rides.

On Wednesday, the Board of Transport for London (TfL) approved a move requiring that every London taxi be equipped to accept credit card payments for fares by October this year. TfL gave the idea the green light after unearthing that 86 percent of respondents had backed the move.

Up until now, cash has been the sole method of payment for London's iconic black cabs, but the decision will have London's 22,500 licensed taxis able to accept credit card payments by eight months from now.

"It's great news that with a quick swipe of a card, millions of passengers will be able to pay for their journeys in London's iconic black cabs," mayor of London Boris Johnson said as part of TfL's announcement. "It's an essential part of modern life and it'll make paying for your journey swifter and simpler than ever before."

Added TfL chief operating officer for Surface Transport Garrett Emmerson: "We believe the acceptance of card and contactless payments will be a huge plus for both taxi drivers and their passengers. Card payments are part of everyday life in London, and people use them in every aspect of their lives."

While this adds a level of convenience for London's black cabs, they still face an uphill battle in firmly planting their footing against the growth of Uber.