I paid for extra storage and I DO NOT have it.
I’m going to cancel payment for extra storage.
iPhone 7, iOS 14
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Maybe you're mistaken iCloud storage by device storage.
If you need more device storage, that's something you must buy when you purchase the device, so you choose the device with larger storage at that moment.
iCloud storage is web service and does help in terms of storage, but it won't actually expand the device capacity.
Please read these articles:
What's the difference between device storage and iCloud storage? - Apple Support