"something left as security," late 15c. (mid-12c. as Anglo-Latin pandum), from Old French pan, pant "pledge, security," also "booty, plunder," perhaps from Frankish or some other Germanic source (compare Old High German pfant, German Pfand, Middle Dutch pant, Old Frisian pand "pledge"), from West Germanic *panda, of unknown origin.The Old French word is identical to pan "cloth, piece of cloth," from Latin pannum (nominative pannus) "cloth, piece of cloth, garment" and Klein's sources feel this is the source of both the Old French and West Germanic words (perhaps on the notion of cloth used as a medium of exchange).

lowly chess piece, late 14c., from Anglo-French poun, Old French peon, earlier pehon, from Medieval Latin pedonem "foot soldier," from Late Latin pedonem (nominative pedo) "one going on foot," from Latin pes (genitive pedis) "foot" (see foot, n.). The chess sense was in Old French by 13c. Figurative use, of persons, is from 1580s.