I recently started using the VE16N as an everyday wallet.
It is large enough to hold more than a regular wallet, things are in one place and not scattered in pockets (keys, earplugs, a pen and a small notebook) and all this in addition to the regular things that are in the wallet.
In my opinion, the lack of velcro only gives the VE16N more flexibility, and it also does not get stuck in the pockets of cargo pants.

Love the material and color i use it as my first aid and wallet pouch. Extremely light.