Experiences provides three different ways for customers to reserve an experience with you.
Option 1: Prepay
Use this option if you want to take payment at the time of booking. Your customer will be required to complete the entire checkout process, including payment, before they can reserve their Experience with you.
Option 2: Reservation
Use this option if you want to charge for an Experience, but don't want to take payment until the customer arrives to check in. You will need to use the Shopify POS to look up their reservation and take payment through the POS.
Option 3: Free
Just like the name suggests, use this option if you don't want to charge for your event. You can choose to check in your customers using the Shopify POS at the time of the Experience even though you're not taking payment.
Please note that an Experience cannot have more than one payment type. e.g. If you have made it a Free event it can't also be a Prepay event. Also, once an Experience has bookings/reservations using a certain Payment type, you cannot change it to another type.