What is Pay What You Want?
Pay what you want (or PWYW) is a pricing strategy where customers pay their desired amount for a given commodity. You can set up a minimum/base price for your product or service, and buyers can choose to pay anything equal to or more than the base price.
A few cases use cases for PWYW:
1. Selling Art & Music: If you're selling a work of art or anything creative, you could encourage your customers to decide the price they deem fit for your product.
2. Collecting Donations: While collecting donations, you'd like to have your donors enter the amount they'd like to donate, rather than having a fixed amount. You can set a minimum amount here and the donors can pay any amount over that.
How can I set my links price as Pay What You Want?
- While Adding a Product to Store, first set the base price in the price field of the form.
- Check the button corresponding to ‘Use Pay What You Want’ and create the link.
- Now, your customers can choose to pay the base price + any amount they want, upto a maximum limit of Rs 1,00,000.