The wafers are flat, spring-loaded tumblers that are much thinner than pins and the distance between them is less. Wafer locks are picked in the same way as pin tumbler locks, but you must compensate for the smaller dimensions
Wafer locks are used on filing cabinets, lockers, most cars, garage doors, desks, and wherever medium security is required.
http://www.blackmarket-press.net/info/l ... rets_6.htm
Note: site promotes bad lock picking

Also note wafer locks can also come with wafers at the top and bottom.

Note: my understand is this picture is sideways.
I am really sorry if this is covered elsewere in the forum however I could not find it (search/browse).
One last question, I have noticed a site which refers to Wafer lock reading. I do not really understand this concept, could someone please explain the basic elements (I know you look and work out but there has to be more to it).
http://www.sievekingprodco.com/wlrbk.html