Hi PaulaBar,
Thanks for reaching out to Apple Support Communities. It sounds like you would like to stop being prompted to set up Apple Pay and we're happy to help.
If the option to set up later was selected, you can now choose to set up later directly in the app. To do so navigate to Settings > Finish Setting Up You iPhone and choose the Apple Pay option. Here you should see a similar screen to the one you initially saw during the setup. However, once you choose "Set up Later in Wallet" the notification alert in Settings should be removed.
You may also want to turn off Notifications for Wallet under Settings > Notifications > Wallet.
You can also find information for entering your details for features you do want to use here: Finish setting up your iPhone, iPad, or iPod touch
We hope the information helps.
Cheers!