Payment information could not be updated.

Sign in to your Apple ID account page and edit / update your Apple ID details.

https://appleid.apple.com

On the Sidebar click Payment methods -> then tap Payments Methods and tap Manage payment method.

Or -> Change, add or remove Apple ID payment methods

Change, add or remove Apple ID payment methods – Apple Support (UK)

• Add first the new card, then remove the old one.

What happens when you try? Error message(s)?

If necessary, contact iTunes Support for assistance. See the Apple Support articles below for contact information.   

iTunes Support – world wide   -

Apple Support schedule phone call     -

Billings and Subscriptions   -

Apple on Twitter