This occurs when there is no Constituent Update Batch template configured with the indicated fields.
To configure this:
1. Access CRM > Web > Manage Web Transactions
2. Select the 'Batch Assignments' tab
3. Add a batch assignment for Signups that uses a Constituent Update Batch with the fields specified.
If you already have the correct batch type template assigned through batch assignments, you can also edit that template directly from the Failed Transactions tab with the "edit template" button.