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Consumer Payment Prioritization Shifts During the Pandemic

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In 2020, we grappled with economic impacts of the COVID-19 pandemic within a drastically changing world. Widespread unemployment and business closures influenced consumers’ credit health and ability to meet loan obligations; the government responding with financial hardship programs. As well, shelter-in-place orders prohibited in-person transactions, forcing lenders to move customer engagement and lending strategies to digital channels almost overnight.

These trends shifted how consumers prioritize payment obligations — some temporarily, some longer-term. As lenders recover, identifying and addressing these shifts will be critical to effectively managing portfolios.

In this session, we’ll share insights from our recent study into the consumer payment hierarchy prior to and during the pandemic. We’ll reveal consumer payment decisions since our last update and how they’ve changed throughout the crisis. Through direct consumer survey results, we’ll also offer a deep-dive into different payment prioritization dynamics based on the financial products in consumer wallets, as well as their payment decision-making process.

If you're already registered for the Consumer Payment Prioritization Shifts During the Pandemic webcast, click below:



Matt Komos

Vice President, Financial Services Research & Consulting


Matthew Komos leads financial services research and consulting in the U.S. and is charged with providing insights and exploring emerging trends in consumer credit. He has over 20 years of experience in lending, with a focus on risk management, growth dynamics, customer profitability, and analytically derived solutions across the full consumer lifecycle. He also has extensive experience in the business lending arena. Komos has worked within and consulted for some of the largest financial institutions in the world, as well as various startup consulting and lending firms, where he’s leveraged empirically-based solutions to solve complex business problems. Komos earned a bachelor’s degree in economics with a minor in mathematics from the University of Illinois at Champaign-Urbana, and a master’s degree in applied statistics from DePaul University. He’s a member of the Risk Management Association and teaches statistics at both the graduate and undergraduate levels.

Atsuko Watanabe

Director, Financial Services Research & Consulting


Atsuko Watanabe leads the U.S. financial services research group for TransUnion. She has over 18 years of experience in financial services with primary focus on driving business transformation, growth and profitability in the credit card industry. Prior to joining TransUnion, she held key management positions at large, fast-growing companies involved in managing acquisitions, portfolio management and collections functions. Watanabe holds a bachelor’s degree in mathematics, actuarial science, from University of Nevada, Las Vegas, and a master’s degree in mathematics, applied statistics, from University of Nevada, Las Vegas.

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