This alert normally comes up when there is an issue with your payment provider such as that your credit card is not sufficiently covered, expired or when there is a problem with the authorization of the payment (payment providers like ApplePay could flag certain payments as fraudulent or you have an app with which you have to authorize individual payments).
What you can do in this situation:
Please contact your payment provider for more information. If the problem is fixed, you can press the Authenticate Payment button after a few days to initiate the payment again. If the error message disappears, the payment will be charged normally and your membership will be successfully renewed.
If the message is still showing after resolving the underlying issue, you have to cancel your current subscription in the billing tab of your account settings and then set up a new one with your new payment details by buying the needed premium membership on the Upgrade page.
To learn how to change your payment method or payment details, please refer to the following article.