App Store requires payment info

When you try to download something the system contacts your card issuer for verification. If it fails verification that means that the card is NOT up to date; your issuer has said it isn’t and Apple is just passing along that message. So contact your card issuer.

Here is the long answer:

A “payment declined” or “card declined" message means that the issuer of the credit or debit card you have on file in your iTunes account rejected a charge or account confirmation. It is not an Apple problem; Apple is just passing through the message from your issuer. There are a number of reasons the charge or verification might be declined:

• Apple is not allowed to accept credit or debit cards in your country
• The card is not recognized in your country
• Insufficient balance or account in arrears
• Account suspended for suspected fraud (not necessarily by you)
• Error in card number
• Wrong expiration date
• Wrong security (CVV) code
• Address in your iTunes account does not match exactly the billing address for the card
• If you are trying to add the card to the Apple Wallet the issuer doesn't support the Wallet
• The card was not issued in the region of the iTunes store
• You are connected through a VPN provider that does not terminate near your actual location.
• If you have an expired or invalid card in your Apple ID account you must add a new card FIRST, then delete the expired card.

Here is additional information from Apple→If your payment method is declined in the App Store or iTunes Store - Apple Support