Renting movies on AppleTV/iTunes

On my AppleTV, when I click on rent or purchase in iTunes for a movie, I see the options to “Confirm with Apple Device”, “Confirm with Password”, and “Cancel”. If I click on Confirm with Apple Device, OR tap the pop-up on my iPhone which says “Confirm Purchase”, I get an error saying “Payment not completed” and sent back to the movie screen. If I choose “Confirm with Password”, the AppleTV forces me to go to Settings to enter the password, and then I have to navigate back to the movie in iTunes. I can’t figure out how to fix this issue so I can either confirm with my phone or simply enter the password on a pop-up vs being sent to settings. Hoping someone else has had this issue and can help!