Update payment details ?

See -> If you need to change or update your Apple ID payment method

If you need to change or update your Apple ID payment method - Apple Support

See also -> Payment methods you can use with your Apple ID

Payment methods you can use with your Apple ID – Apple Support (UK)

fyi: Not all credit & debit cards seem to work with App Store / iTunes Store, try a different one, or preferably a credit card. If your card is not accepted as a paymenf method, you need to contact your bank.

If you still need help, get support from Apple directly -> Get Support or call Apple in your region see -> Contact Apple for support and service or check -> here for more support and assistance.

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I recently cancelled Apple TV could this be the reason?

I do not think so.

iPhone XS