It may be considered old-fashioned in today’s technology-enabled world of transactions. However, in Ghana, Nigeria and other African countries, so many transactions are still cash-based and one cannot belittle the importance of a pocket wallet to its holders.
The pocket wallet is designed to hold money and cards, although people stock it with other items that may surprise you.
The growth of technology and e-transactions have almost diminished or rendered needless the pocket wallet in some advanced countries where cash transactions are at the minimum. However, the wallet is still very useful in African countries and many others across the globe, even in advanced countries.
The obvious reason is to hold your cash intact and well-organised. The usually compartmented wallet helps holders to organize their notes according to any criteria they choose, like currency type and denominations, compared to loosely keeping cash in your pockets. Having a wallet usually prompts you to keep money on you to provide the needed liquidity for transactionary and precautionary purposes.
The wallet is perceived to provide some comfortable level of safety for its holders. People buy wallets with zips to provide additional security and/or safety for their money. Holders often do not worry about their cash falling out of their pockets. This safety relieves the mind of constantly checking on whether or not your money is still in your pocket.
Many believe that the growth in the use of electronic cards has rendered pocket wallets useless. The electronic-cards themselves can be misplaced or damaged, so they need to be kept safe. The pocket wallet provides that safety. It is more conspicuous and physically protected compared to the standalone card. And since many people are carrying so many cards on them daily, the wallet provides room for you to safely and conveniently keep all of them in one place.
There are mobile apps that are taking over some of the roles of the pocket wallet but it still remains a very relevant and beneficial companion to many around the world.