In the upper right corner, there is an icon (looks like a small clipboard). It's the same place you would tap to message or call the rider you are currently matched with. that should take you to the place where you can tap cancel.
It has to be five minutes or more from the time you "arrived" (meaning the notification was sent to the rider) for you to be eligible to get the $5.00 cancellation fee. They will almost never give it to you though unless you contact them and ask for it. Sometimes it senses you are at the destination and automatically changes the status to "arrived" and notifies them. Sometimes you have to do it yourself, especially if the rider has entered a vague pick-up and you are not close enough to the actual pin.
I think you are mistaken ,if the rider cancels 5 minutes after you received the Ping you will get the cancellation fee.
You have to wait 5 minutes at the arrival point to receive the cancellation fee if you (driver)cancel.
Uber used to give new riders one freebie for cancel regardless how nuch time was gone ,not sure if they still do that.
The rider also can cancel for free if you are over the estimated arrival time
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