Paisa (also called pice, pesa, poysha, poisha, and baisa) is a small unit of money. The word means money or wealth. In India, Nepal, and Pakistan, one paisa is 1/100 of a rupee. In Bangladesh, one poysha is 1/100 of a Bangladeshi taka. One baisa in Oman equals 1/1000 of an Omani rial.
Etymology
The word paisa originates from the Sanskrit word padāṁśa. Padāṁśa means quarter part and unit.[1][2] The pesa was used in colonial Kenya.[3]
History
Chaulukya coins were known as Gadhaiya Paise.[4] In India and Pakistan the paisa or pice was equal to 3 pies or 1/64 of a rupee until the 1950's. When these countries switched to a decimal system, the paisa became 1/100 of a rupee.
Terminology
In languages like Hindi, Bengali, Urdu, and Nepali, the word paisa means money. In East Africa, the word pesa for money is still used.[5] An example is Kenya’s M-Pesa, which means "mobile pesa" or "mobile money."
Usage
Poysha = 1⁄100 of a Bangladeshi taka (no longer in circulation)
Paisa = 1⁄100 of an Indian rupee (only 50 paisa coins are de facto valid but no longer in circulation)
Paisa = 1⁄100 of a Nepalese rupee (no longer in circulation)
↑Jeffreys, M. D. W. (1953). "Cowry: Ndoro". NADA: The Southern Rhodesia Native Affairs Department Annual (30). Government of Southern Rhodesia. Retrieved 3 February 2015. ...currency terms pesa, upeni, mali, khete, tickey all derive from Hindu or Arabic currency terms still in use in what was once called the Erythraean Sea