On default sites, the plugin can be updated on the Dashboard -> Updates or Plugins -> Installed Plugins pages in your back end, just like the free plugins from WordPress.org. You will be notified about new versions and can install them by clicking on the update link.
On multisite installations you need to go to the Tag Groups settings of a site where the plugin is active. Proceed to the Account page and click on “Install Update Now”.
Please note that updates are only available if you have a valid license (lifetime or from a regular subscription) at Freemius.
The changelog shows the version history with the latest release on top. Subscribe to the changelog with a RSS reader or by email to be notified about new releases.