If you would like to switch to a different payout option you can do so by going into your account and editing your billing information here. There are no penalties or fees for making changes.
PLEASE NOTE: Every 24hrs all transactions that occur within your store are logged and recorded (this happens daily at 12am EST). If you switch to a payout option that has a reduced or an increased revenue split, your earnings for the day will be affected.
(Read about the different Payout Options here.)