Here's how to update your payment method on Microsoft so you can ensure your licenses are paid for.
First open your Microsoft Home Page at https://portal.office.com and sign in as either a Global Admin or Billing Admin where you will be shown this page:
When you click on "admin" you are presented a number of options including "Billing". Open the Billing section and select "Payment Methods" to inspect your payment methods, to add a new one select "Add a payment method"
Once you have added your new payment method you need to open each of the licenses you have under Your Products and "replace the payment method" changing the payment method to the preferred method.
Repeat this for each of your products.
When you are complete you can remove payment methods not in use.
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