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A wallet is a small, flat case that can be used to carry such personal items as cash, credit cards, and identification documents (driver's license, identification card, club card, etc.), photographs, transit pass, gift cards, business cards and other paper or laminated cards. Wallets are generally made of leather or fabrics, and they are usually pocket-sized but not always foldable.
The modern bi-fold wallet with multiple "card slots" became standardized in the early 1950s with the introduction of the first credit cards. Some innovations include the introduction of the velcro-closure wallet in the 1970s. Pocket-sized wallets remain extremely popular to this day.
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