The wallet and billfold are both pocket-sized folding holders for paper money, credit cards and small personal documents like a driver’s license or photos. According to Merriam-Webster.com, the words billfold and wallet are synonyms that can be used interchangeably. Merriam-Webster says the word billfold came into use in the 1890s while the word wallet can trace its roots back to the 14th Century.
Merriam-Webster.com says billfold is a shortened form of the term “bill folder.” A bill folder is a leather case for holding and presenting important documents without creasing them. Merriam-Webster said a wallet originally was a small leather or cloth bag that held small personal items while traveling.
Other Reference Sources Agree
Other word definition sources also see no real difference between billfold and wallet. For instance, Encarta.com defines billfold as a pocket-sized folding container for paper money, photos, personal papers, sometimes with a compartment for loose change. It defines wallet as a small flat folding case of leather or plastic for holding paper money and credit cards, carried in pocket or purse.
Wallet’s Other Meanings
But the word wallet has additional meanings that aren’t attached to the word billfold. Wordnik.com says wallet also refers to the financial resources at your disposal, as in “hitting people in the wallet to get their attention.”
An electronic wallet, says BusinessDictionary.com, is a piece of computer software that stores coded credit card information that you use to make online purchases without having to enter all your card information.
Share of Wallet
Share of wallet, says information-management.com, is a marketing measurement for the proportion of money the customer spends on your product brand in preference to the competing brands.