IPA: /ˈwɒlɪt/
KK: /ˈwɑlɪt/
A small, flat case used to hold money, cards, and other personal items, often made of leather.
He took out his wallet to pay for the groceries.
The word 'wallet' originates from Old Northern French 'walet', meaning a small bag or purse. It refers to a small container used for carrying money and personal items.
Think of a small 'bag' ('walet') that holds your money and personal items — that's what a wallet is.