How to resolve iCloud+ Subscription payment authentication issue?

On Friday night I received a notification on my iPhone which urged me to update my payment details because there is a problem with my iCloud+ subscription payment.

Basically Apple reports that this payment method requires authentication from my bank. (I have been using this card on the AppleStore for the last 10 years and I had never received this type of message). 

Once I insert my credit card's security code the message disappears for 1-2 minutes and then reappears later on. The problem is that I never receive any type of authentication message on my bank's app. I already talked to the bank's assistance and they confirmed the card and the authentication have no issues. I even tried the authentication in other websites and it works perfectly.

I already talked to Apple's support via App and to their senior advisor by phone. We tried several solutions but none of them seem to work.

I was wondering if anybody else has faced this problem and if they found a solution.

[Re-Titled by Moderator]