Open the navigation bar and then click on the Passcode icon.
Now you have to enter the current passcode. Then type the new 4 digit passcode and re-enter it below. Then click on SET. Now this passcode is set for the app.
Once you exit the app, then the passcode is required to re-enter the app. If you have a fingerprint sensor on your phone then, you can even use that to enter the app.