Do you have access to another WiFi network where you can try? That has worked for several people.
Try a restart.
Restart your iPhone, iPad, or iPod touch
Try a forced restart.
Reset Device.
If necessary
Hard reset.
Do a backup and try a factory reset. Then restore from your backup.
Restore to Factory setting.
Backup - Restore your device from an iCloud or iTunes backup.
Log into your account in the App Store/iTunes and you should be able to change/verify it there. Or you can click the blue Edit payment methods in the article below. When signed in and the page loads, you will be on the credit card page. After updating that, click the Go Back button at the lower left and you will be on the address page.
Apple ID payment information - change.
Apple ID has not yet been used with the iTunes store. Please review your account information