How to i update payment info for netflix?

i get a ERROR message on my ipad when trying to use netflix
your account is on hold because of a problem with your last payment.
visit netflix.com/payment to update your payment method to continue enjoying netflix.
what does this mean??
when i go to netflix.com, it tells me that my subscription is handled by itunes.
my payment info is ok on itunes
so what is the issue and how do i fix it?

On your iPad tap Settings > iTunes & App Store then tap your Apple ID then tap View Apple ID then tap Payment Information.
Select your payment type then tap Done.
Now restart your iPhone.

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