Waleed Najam, a young entrepreneur from Pakistan, has been featured in the Payoneer Success Stories. Following Syed Arslan Ali Shah, Waleed is the second Pakistani entrepreneur to be featured in this prestigious series.
His journey is a fascinating tale of rising to the pinnacle of success, facing setbacks, and then achieving even greater heights. Waleed became a millionaire, experienced failure, and through relentless effort, became a multimillionaire.
Waleed’s career began in 2014 when he juggled freelancing with a full-time web development job. His platforms of choice were Fiverr and Freelancer, and he adopted Payoneer for financial transactions, often working between 18 to 20 hours daily.
During this time, he signed up for Payoneer and started using their debit card for transactions, working 18 to 20 hours a day.
His entrepreneurial spirit led him to establish Maxmind Solutions, a software company. He later founded Rankistan in 2018, a digital marketing firm that quickly rose to prominence. Rankistan was awarded the Best Digital Marketing Company in Pakistan in 2022 and 2023.
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Founded in 2018, Rankistan has made a name for itself in international performance marketing, focusing on e-commerce brands and partnering with clients worldwide to scale their businesses. The company has been recognized as top Advertising and marketing agency in 2021 by clutch.
In Pakistan, the distribution of e-commerce platforms illustrates a vibrant market landscape. Shopify leads with 37.28K stores, accounting for 54.43% of the total, followed by WooCommerce with 25.46K stores or 37.17% of the total. Custom Cart also holds a significant share with 3.61K stores, making up 5.27% of the market. This diversity reflects the varying preferences of store owners in Pakistan, showcasing a dynamic choice of platforms to operate their online businesses.
Similarly, with 2.71 billion online shoppers globally as of 2024, representing 33% of the world’s population, and a 2.7% increase from the previous year, Waleed’s story aligns with a global trend. This number is expected to rise to 2.77 billion by 2025, reflecting a booming e-commerce sector fueled by increased internet penetration and convenience.
Notably, China leads with 915.1 million online shoppers, while the US has 270.11 million online buyers in 2024, highlighting the vast potential and scale of e-commerce markets that Waleed has tapped into.
One thing Waleed sought was the freedom to work remotely and be his own boss. He started and invested in several e-commerce stores. Waleed’s vision extended beyond conventional business as he ventured into e-commerce, experiencing exponential growth. His sales escalated from $100 to $1,000 and astonishingly to $100,000 per day. Reflecting on this milestone, Waleed stated, “The day when I achieved $100,000 sale per day, I witnessed the true power of e-commerce.”
As the sole provider of international banking services in Pakistan, Payoneer enabled Waleed to receive direct ACH payments from clients worldwide, solidifying his financial operations and supporting his expansive business endeavors. Waleed said: “Managing my funds would have been challenging without Payoneer, which I used for various digital transactions, including Shopify and even Google Ads.”
Moreover, the financial freedom allowed him to travel and work from anywhere. Payoneer payments assisted him in getting paid from anywhere and be able to do business in any part of the world.
Waleed’s journey is not just a testament to his personal determination but also underscores the pivotal role of innovative financial solutions in the success of modern enterprises.
To get gain insights in e-commerce, market trends and consumer behavior, you can visit waleednajam.com.
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Your stats related to diversity of ecom stores in pakistan does not total to 100% please check.
Waleed and other Pakistanis can finally have other options to get money. Payoneer the is most expensive options for Pakistanis. It also has one of the worst customer service. They freeze your account for arbitrary reasons and take weeks to process account blocks.
I hope Payoneer comes to its senses. If not then Elevate and likes of it will take a much larger market share from them. Either way Pakistanis win.
what are the other options than payoneer?
Payoneer banner my account without a single transaction and refused to elaborate. It is a bad service and I warn you against it.
Try Elevate instead. It has a much more human onboarding.
The dollars are not brought to Pakistan. It is collected outside of Pakistan and also the freelancer pays no tax while living in Pakistan. This should be banned.
Freelancer should open account at HBL bank or then pay tax like rest the salaried professionals.