Source : Webster's Revised Unabridged Dictionary (1913)

Wallet \Wal"let\, n. [OE. walet, probably the same word as OE.
   watel a bag. See {Wattle}.]
   1. A bag or sack for carrying about the person, as a bag for
      carrying the necessaries for a journey; a knapsack; a
      beggar's receptacle for charity; a peddler's pack.

            [His hood] was trussed up in his walet. --Chaucer.

   2. A pocketbook for keeping money about the person.

   3. Anything protuberant and swagging. ``Wallets of flesh.''
      --Shak.

Source : WordNet®

wallet
     n : a pocket-size case for holding papers and paper money [syn:
         {billfold}, {notecase}, {pocketbook}]