This error can sometimes be a little misleading: if you are seeing the same message ManishJ was seeing earlier in the thread:
I've seen this error message pop up in the past in relation to editing your payment method rather than information like your name/address. The credit card or PayPal account listed under Settings > Billing is what is used to pay for things like domains/apps/themes as well as subscription fees. Can I ask if you have a PayPal or a credit card attached to the admin? If you do have a PayPal account added, it would be best to reach out to their support team so they can assist you. This is because we would not have access to PayPal's end, so we would not be able to see the reason why a charge failed. However, if you're using a credit card, those charges would come directly from the admin so we have a little more scope. Let me know here if it's a credit card you're using, I can dig into this further.
Social Care | help.shopify.com