Yes!

Pausing a device is ideal for users who are testing devices and don't want to accidentally consume large amounts of data or SMS charges.

To pause a device's usage simply go into that device's page and hit the Pause button.

To resume service simply hit the Resume button that replaces the Pause button when in a paused state.
 
Note that you will still get charged a monthly active device charge for each SIM to maintain the option of reactivating them.

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