Magento – Magento2 System Requirements PHP Memory Limit

It's hard to say exactly why that chunk of code is trigging the memory error without more context - a stack trace, description of what actions are ongoing when the error occurs, etc.

But, I can definitely say that by going with a more modern version of PHP you will see decreased memory usage. You could always manually raise the 1GB, but even if you do that you will see more benefit with PHP 5.4 or 5.5. More information on PHP memory here.

What version of Magento are you using? Double check the system requirements here and be sure you meet them all.

Go to your Php.ini in your Wampp/Php folder & search for memory_limit set it to 2048M & save the file stop your Wampp server & restart the Wampp Server & try Again.

Be sure that after making your php version to 7.0.10 again restart your server.

For better information run your info.php file into your server & look for the active configurations are matching your requirements or not

Go to Magento Directory opened cmd/terminal there & Run these three commands in cmd/terminal. To run the cron separately.

Php bin/magento cron:run

php update/cron.php

php bin/magento setup:cron:run

Try to run the readiness check again.See for the reference Magento doesn't check php version

If still facing some problem feel free to ask

Thank You!