By default the bid type is set to CPC. To edit the bid type go to the Targeting tab and change from CPC to CPM in the Bid type column.
Unfortunately you can not bulk edit the bid type in the Targeting tab.
When your campaign is published you can bulk edit the bid type for the ads. Go to "Manage Ads" and select the ads you wish to edit. Click on "Bidding" in the bottom toolbar.
In "Bidding" you are able to bulk edit the bid type or edit the bids on the ads.
Look here for more information about how to edit ads and bidding: http://www.qwaya.com/resources/user-guide/edit-ads