Open Memberships in your account and cancel from there. Do it before the next payment date rather than after.

On the website, your account lists Loyalty, Gift cards and Payment methods. It does not list Memberships. Join from the business's page and ask the business if you need to cancel.
Timing matters
Cancelling the day after a payment usually means you have paid for a period you are choosing not to use. Cancel a few days before renewal instead.
What happens to the rest of the period
Most businesses let you use what you have already paid for until it runs out. Their terms set this and they will tell you if you ask.
Removing your card instead
Do not do this in place of cancelling. It causes a failed payment rather than a clean cancellation and leaves the business chasing you about it.
Coming back later
Cancelling does not delete your account or your history. You can subscribe again whenever you like.
Common questions
Will I get a refund for the current month?
That depends on the business's terms. Ask them, as many will let you use out what you have paid for.
Does cancelling affect my loyalty balance?
No. Loyalty is separate and stays as it is.
Can I pause instead of cancelling?
Ask the business. Some are happy to, though it is arranged with them rather than set by you.