Mine have always updated automatically but the following has instructions if they don't. See below from Change or remove the payment cards that you use with Apple Pay - Apple Support
Update your Apple Pay card number and expiration date
With Apple Pay, your payment card has a unique Device Account Number used to process payments and an expiration date associated with that Device Account Number.
If your card expires or you otherwise get a new card:
- The card number and expiration date linked to the Device Account Number should be updated automatically.
- If your card issuer doesn’t support these updates, you might need to remove the card and add it again.