PayPal Plans to Issue Debit Cards for POS Use Starting First Half of 2012

PayPal Inc., a dominant processor of e-commerce transactions, has made no secret lately of its ambitions to move into the world of brick-and-mortar commerce. The only missing element was a physical token that account holders could use at the point of sale. Now it appears that void will soon be filled. PayPal on Wednesday officially unveiled the PayPal Card, a mag-striped plastic card that will become available to its base of 100 million active users during the first half of 2012.

Insiders tell us the card will operate on a prepaid debit card platform and will be issued by GE Money.