PayPal does offer a Debit card for Premier and Business accounts, if that's what you're looking for. You can use it to withdraw funds at an ATM, or you can use it as a Mastercard for purchases. In both cases, it uses the available funds in your PayPal balance.
You may also be able to earn cashback on the purchases made with your PayPal Debit Card. To learn more, go to PayPal.com and click on the "Earn cashback" link at the bottom of the main page.