purse (n.) Look up purse at Dictionary.com
Old English pursa "little bag made of leather," especially for carrying money, from Medieval Latin bursa "leather purse" (source also of Old French borse, 12c., Modern French bourse; see bourse), from Late Latin bursa, variant of byrsa "hide," from Greek byrsa "hide, leather." Change of b- to p- perhaps by influence of Old English pusa, Old Norse posi "bag."

Meaning "woman's handbag" is attested from 1951. Meaning "sum of money collected as a prize in a race, etc.," is from 1640s. Purse-strings, figurative for "control of money," is from early 15c. Purse-snatcher first attested 1902 (earlier purse-picker, 1540s). The notion of "drawn together by a thong" also is behind purse-net (c.1400).
purse (v.) Look up purse at Dictionary.com
c.1300, "put in a purse;" c.1600 as "draw together and wrinkle" (as the strings of a money bag), from purse (n.). Related: Pursed; pursing.