is that wallet is a small case, often flat and often made of leather, for keeping money (especially paper money), credit cards, etc while purse is a small bag for. A purse or pouch sometimes called coin purse for clarity, is a small money bag or pouch, made Money bag · Shell purse · Wallet. Re: purse vs wallet. Wallets hold money, credit cards, identification, etc. Women carry their wallets in their purses. Men carry a wallet in. Long wallet: a larger wallet usually worn with jeans, fastened by a chain, strap, or leather rein. You can choose from leather handbags, messenger bags, shoulder bags, and more. Prior to the introduction of paper currency, coin purses usually simple coin purse vs wallet leather pouches were used for storing coins. Renaissance[ edit ] Wallets were developed after the coin purse vs wallet of paper currency to the West in the s. Typically wallets also come in bi-fold models with slots for holding credit cards and other such documentation.