Please check that the information for your registered payment method is correct.
Go to Settings > Users and Accounts.
Select Account > Payment and Subscriptions > Payment Methods.
Select a registered payment method, press the options button, and then select either Edit or Remove. Carefully check your payment information, including the expiration date and billing address. Follow the on-screen instructions to make your changes.
If you're still having issues, try using a different payment method.
This may be a temporary issue. Please wait 24 hours and try again.
If paying with a credit card isn't necessary, please consider using a PlayStation™Store gift card.
Please note that if you register or delete payment information multiple times in a short period, you may be unable to change your payment information for a time. If this happens, please wait 24 hours before trying again.