A lot of services don't stop the day payment wasn't received but try for weeks to follow up, be automated or manual. In our (small scale) B2B SaaS we give benefit of doubt and the last thing we want is to stop access, which might break some production system on the customer side. I'm more concerned about the "I don't even bother". Some companies might hide their unsubscribe feature, that's frustrating, a lot others make it super easy.
Ok, so what's the issue exactly? The person is no longer using the service, so won't matter if you retry one time one day then cancel VS retrying for weeks, their usage wouldn't impact you, and eventually the account will be deactivated/suspended?
Maybe payment processors will charge significant fees for declined transactions and it may hurt your reputation with them, possibly resulting in overall fee increases or outright being kicked off of the platform.
But again, that issue appears no matter what reason the card didn't work, it's not exclusive to someone who themselves "paused" the card and the business continued to try to charge them.
