If you are currently on the legacy Free Plans, you do not have to follow any of the following steps. You will automatically be subscribed to the new pricing plans when you upgrade.
Important Note: According to Shopify policy, merchants are required to approve any change of pricing (even if it is a price drop). Developers are not allow to change it. In order for merchants to be entitled to the price drop, they must approve pricing change.
To change to the latest pricing, first go to the Payment page:
The page will display the following:
Current price that you are paying for the subscription.
Choose between monthly charge or save a further 25% by subscribing to annual plans instead.
Once you had selected the plans in 2, click this button to convert your subscription to the latest pricing charge.
Once the Convert button is selected, you will be brought to the Shopify Approve Subscription page. You are required to Approve the new charges to complete the steps. Failure to do so will result in paying the old subscription price.