Key facts about Mr. Payday
- Loan type
- Payday loan
- Cost per $100 borrowed
- $14
- Repay on a $500 loan
- $570
- Rate / cost disclosure
- $14 per $100 borrowed; about 365% as an annual rate on a 14-day loan
- Maximum loan amount
- $1,500
- Typical loan term
- Up to 62 days
- How to apply
- Online
- Service type
- Online
- Provinces served
- Alberta, British Columbia, Ontario
- Head office / service area
- British Columbia
Is Mr. Payday licensed?
| Province | Licence number | Status | Last checked | Verify |
|---|---|---|---|---|
| Alberta | 326997 | Published by lender | November 14, 2026 | Service Alberta and Red Tape Reduction |
| British Columbia | 50031 | Published by lender | November 14, 2026 | Consumer Protection BC |
| Ontario | 4716300 | Published by lender | November 14, 2026 | Consumer Protection Ontario (Ministry of Public and Business Service Delivery) |
Registries change daily. Confirm the licence yourself before you borrow.
What stands out
- Licence numbers displayed for all three provinces
- Short online application
- Long-established in western Canada
What to watch
- Only three provinces
- Maximum legal cost
- No storefronts
Who is Mr. Payday?
Mr. Payday keeps things narrow: three provinces, one product, applications taken online. Its Alberta, BC and Ontario licence numbers are displayed on its website, which makes it one of the easier lenders to look up before you apply.
Who is Mr. Payday suited to?
Worth a look for borrowers in its three provinces who want a long-running online lender. Everyone else will need a lender with broader licensing.
Can you cancel?
Provincial law gives you a short cooling-off period to cancel a payday loan at no cost — two business days in Ontario, British Columbia and Alberta.
What if a payment fails?
A returned payment can trigger a one-time lender fee, and your bank may add its own NSF charge. Check the agreement for the exact amounts.
Sources
Editorial review completed November 14, 2026. Ratings are our opinion, not customer reviews — see the Editorial Policy.