It can take a couple of days or so, and I think the problem is more likely to be with PayPal and not the company you bought from. I’ve had this happen, even having to go into my PP account to claim the refund. It’s just security stuff. Is your PP a verified account for instance? Is it used rarely or often? Just tonight I had a small payment refused after a couple of other small transactions until I verified my payment method (expiry date of card and security number on back), via the secure PP site obviously and not from a random dodgy email with a link.If a company cancels my order should it not be apparent on PayPal immediately?