Apple Wallet reoccurring payment issue: Identity verification required

It started happening today. Tried creating a new reoccurring payment and tried sending money individually, but it doesn't work. It gives me a message saying, "Identity Verification Required. Once you have verified your identity, please try again". I thought my identity has already been verified?

[Re-Titled by Moderator]

Original Title: My monthly reoccurring payment in my Apple Wallet isn't sending anymore. What should I do?