Tom Reichart Accepts RSPA Chairperson Gavel

By Abby Sorensen, Editor

Tom Reichart became 2016-17 RSPA (Retail Solutions Providers Association) Board Chairperson on Aug. 2 when 2015-16 Chair Mike Seymour, COO of Postec, passed the gavel to him during the awards ceremony at RetailNOW 2016 at the Gaylord Texan Resort and Convention Center in Grapevine, TX.

Reichart is Vice President of Business Development at Vantiv, Inc., a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes.

He joined Vantiv in March 2006 and in his role he assists the channel and reseller sales teams with strategic opportunities to increase partnership and solidify relationships with Vantiv Integrated Payments, formerly known as Mercury Payments System. He also assists the merchant sales team with tactical merchant opportunities to increase lead to processing conversion.

Prior to Vantiv, Reichart was the Vice President of Channel Sales at NCR Corporation for 32 years. He started as cash register/accounting machine salesman and progressed to become Vice President of Channel Sales where he was responsible for managing retail sales distrubition through reseller channel. During this time he spent 14 years working international sales and marketing, 11 of which he managed the NCR retail Latin America sales and marketing team.

Reichart holds a Bachelor or Science in Management from the Eastern Illinois University and an Executive MBA Certificate in Marketing from the AT&T Corporate Education.

Following is the complete text of Reichart’s acceptance speech:

RSPA Chair Acceptance Speech — RetailNOW Awards Reception 2016

By Tom Reichart

Thank you Kelly and thank you to all for the job of Chairman of the Board. It is quite an honor.

First I would like to recognize last year’s chairman Mike Seymour. Mike has worked very hard this year with Kelly and the staff, and included me in key activities to make sure we have a smooth transition. Mike thanks again for your support.

Of course, lots of people work hard for RSPA. Let’s take a moment to have those who have served as Board Chair in the past to stand so we can recognize their achievements. Also if you are a current Board member please stand. Now would the chairman of all of our committees please stand and be recognized. Thanks to all of you for your hard work and support of the association!

In addition, I would like to thank Matt Taylor, Group President, Steve Wilson and Matt Downs, Senior Vice Presidents at Vantiv and all the people at Vantiv and Vantiv Integrated Payments for the opportunity, and the time to devote to this coming year of leading the RSPA Board.

Now I would like to tell you a wonderful RSPA networking story and how I really got to this position today! I actually met the folks at Mercury at Inspire 2006, 10 years ago in Jamaica. How many of you remember Jamaica?

When my wife and I arrived in our resort building, it was very hot and humid and I was more than ready for a cold beer! Jeff Katz, who co-founded Mercury, was in a sitting in the main area in the cabana we were in watching a football game on TV – actually the Broncos on their way to winning the super bowl that year. I asked the person assisting us with our luggage where the bar was located and Jeff overheard me and laughed and said it will take you a while to get one down the road at the commissary –I’ve already been there, have one of mine! Of course I accepted his offer! After a short visit and more time spent with other Mercury people including Marc Katz, Jeff’s brother and the other co-founder of Mercury, attending the event, followed by a trip to Durango, and an interview with Matt Taylor and a few others, here I am today!

Being at that event earned me the job at Mercury and now Vantiv, so the RSPA and these wonderful events are a place to meet, make deals and strengthen relationships.

When I first thought about addressing this group, I realized that another big event is taking place this week that’s capturing the world’s attention - the Olympics, which begins in Rio only a couple days from now. Can we hear a USA chant???

The Olympics are a special time when the world comes together to celebrate achievement and hard work. You cheer for your athletes and are proud of what they accomplish singularly and collectively. That’s what I want for RSPA. To celebrate how far we have come over our history and how far we can go - together.

I have been in this industry for 44 years – more years than many of you have been around. I started in the early 70s when it was still the mechanical era with the NCR cash registers, and bells ringing up sales. I know many of you think I sold this one when it came out new – not exactly true. I actually sold the first beta model!!

I was there when we moved out cash registers and moved in electronics. I once worked for a CEO who said, “This electronics stuff will Never make it.”

We didn’t think it could get any better.

I was here when…the UPC code was invented and implemented.

I was here when…the electronic shelf label was invented.

I was here when …self-checkout began.

In the 80 and 90’s we saw our industry evolve to using POS and computers to track sales and inventory

Again we thought the industry was on the cutting edge – and it was.

Then in the early 2000s we moved everything to the cloud and started looking at data analytics. So much information about all of us and our habits – just at our fingertips, ready to be used.

Now we are in 2016 and we have virtual reality, Oculus Rifts and Raspberry Pies. As well as something called - Pulse Pay, that some students at Penn State came up with at a Hackathon we sponsored. It uses your heart rate to verify payment. Then there’s selfie pay – which uses a selfie for identification.

Everything has changed and continues to change and we all have to change along with it or we will be the dinosaur in the corner. Like those Olympic athletes, we have to keep honing our skills, dedicating to our craft.

I challenge you all to try something new this year. Maybe it’s a new class that RSPA offers; maybe it’s teaming up with a new partner. Maybe it’s new marketing tactics which including social media. Heck I even have a Twitter account now. Hopefully everyone will follow me at Tom underscore Reichart.

You are surprised – well one of my favorite quotes is from Ben Franklin who kept re-inventing himself. He said “When you’re finished changing, you’re finished.”

We are not finished yet!

I have only a few more years with RSPA but many of you have decades. I want to urge you to get involved, and help to shape this great industry we have. Step up to be the next great athlete like – Usain Bolt, Michael Phelps, and Missy Franklin – a great swimmer from Colorado by the way.

Look for a committee to join to voice your opinion, not matter what age you are. We are working with a group of Millennials here at RSPA to make sure we know what this next generation wants and how it will look. We are talking with developers, sales teams, and dreamers to get a clearer picture of what the future can look like. Looking at market research and sharing the items in our three year strategic plan. We want to know about omni-channel, mobile commerce, virtual shopping, and the global experience. Payments continue to move from brick and mortal to online….how do we follow that trend? We want to know what you have on your mind. So tell us.

In return, look at the resources that are available to you here at RSPA – online education, in-person networking, testing and certification programs, ways to advocate and achieve industry standards. We are – together - moving the industry forward in so many ways. For that I am very proud.

John F. Kennedy said “Change is a way of life.” It definitely should be. So my final thought to you, is right now is a great place and a great time to start. The RSPA has the tools to help you.

The RSPA is the glue that holds us all together. The Olympic coach that is inspiring and encouraging the athletes. By advocacy and industry training that is available through association resources and partnerships. By all of us keeping the association in mind and looking for members who can add value as we grow.

I want to leave you with a couple quotes to set the tone for the year ahead.

“Change your thoughts and you change the world” by Norman Vincent Peale.

And from the great Olympian Muhammad Ali who won boxing gold in 1960 that died only a few weeks ago, said “He, who is not courageous enough to take risks, will accomplish nothing in life.” Take some risks, embrace change, and together we will succeed.

Go USA and Go RSPA.

For more articles on RetailNOW 2016, July 31 to August 2, 2016, at the Gaylord Texan Resort and Convention Center in Grapevine, TX, and the Retail Solutions Providers Association (RSPA), go to www.BSMinfo.com/solution/InsideRSPA.