Google has dropped plans to launch a physical credit card at its I/O developer conference later this week, according to AllthingsD.

The plan for the company to launch its own card was mooted last year, as a means to attract consumers quickly and to gather more useful data for potential advertisers.

Dropping the scheme, at least for the moment, was announced in a recent memo that also revealed the departure of Osama Bedier, the head of Google Wallet, according to sources.

News about Bedier broke last week.

It seems the decision not to debut the credit card at this week’s event was sudden, since it was going to be included in the latest update of Google Wallet, which will be a feature of this week’s show. Sources said a card launch was pulled after a disappointing demo with Google CEO Larry Page.

Separately, Google has offered its own prepaid card, which is virtual, since the launch of its wallet in autumn 2011.