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WEX CEO: "Virtual Cards" Will Power Real Growth in 2014

Virtual card spending, especially on travel sites, was significantly higher in the fourth quarter and that enabled credit card processor WEX Inc. to beat Wall Street earnings and revenue expectations, says the company's CEO Melissa Smith. Smith also says WEX's anticipated acquisition of ExxonMobil's Esso European card portfolio will provide the company with a significant footprint for its fleet business in Europe. Finally, Smith says the company will continue to look for acquisitions in 2014, as well as grow organically.