London's buskers will soon be able to take contactless payments

The future of busking is here. In a new initiative spearheaded by the Mayor of London Sadiq Khan called Busk in London, the UK capital will introduce contactless payments for street performers in partnership with iZettle.

This will enable musicians to accept payments in a range of different methods: cash, contactless cards, wearable technology and chip and pin with new card readers provided by iZettle.

Sadiq Khan said: "London is a powerhouse of music, having produced artists from Adele to Stormzy, and The xx to Dua Lipa. For London to maintain its status as a global capital of music, it's vitally important that we support the stars of tomorrow.

"Busking helps emerging artists to hone their talent and gives them the chance to perform in front of huge numbers of people. Now, more Londoners will be able to show their support to the capital's brilliant, talented street performers.

"Now, more Londoners will be able to show their support to the capital's brilliant, talented street performers." With the fintech industry increasingly growing and cash becoming more and more unnecessary.

The buskers can set their card readers to a fixed amount and they can continue playing while passers-by donate. This is thought to increase the amount that performers receive by simplifying the process by which they are paid.

Charlotte Campbell, a full-time busker who trialed the technology, said: "If street performers like myself don't adapt to the cashless society we are edging towards, we're at risk of becoming a dying art.

"It has already had a significant impact on the contributions I've received. More people than ever tap to donate whilst I sing, and often, when one person does, another follows."

The Swedish fintech iZettle was also acquired by payments giant PayPal earlier this month for $2.2 billion, despite announcing that it was planning an IPO.