1st Step: Go to the subscription.

In the search bar, search for the Member > Click on "Billing" > Click on the subscription that you want to stop.

2nd Step: Stop the subscription.

Click on the pencil at the right hand side of the first invoice > Click on 'Stop after this invoice'.

3rd Step: Cancel the first invoice.

You now have to cancel the first invoice in order to stop the first payment to be taken.

Open the invoice by clicking on it > Click on 'Cancel'.

Click on 'Refund'.

Please not that there is no refund actually happening because the first payment did not go through. This will only cancel the future payment.