This is a new feature that will allow you to create your own payment types and use them to process transactions. You will also be able to report on these specific sales in any reports that list payment types. Some of these are given as examples in the screenshots below.

An example of when you may want to create a custom payment type is if you run some sort of Rewards offering where customers may not be paying with real money like Cash, Credit, gift card, etc. Instead they would be paying with a currency that your company has made up.
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You will find Payment Types under your Company Settings. You can create your own from this page.

1. Click "+Add" to create a new Payment Type.

2. Enter a name for the custom payment type and select which, if any fields will be required upon checking out. Hit the "Save" button.

In the checkout screen, you will find all of your custom payment types under the "Custom" tab. You will notice red "required arrows" next to each field that you have enabled in the Payment Type settings. Once these are all entered, you can process checkout.

This report allows you to filter by Payment Type. Select the "Custom Payment" type of your choice and run the report to see all transactions. You can also choose to view the invoice notes if that was a required field for the payment type.