The system does not verify members automatically, so the admin will need to verify them after they submit the form.
To verify the members please go to My Members » Search Members :
Find the member that is going to get verified.
Click on Actions >> Quick Edit:
Go to the listings tab and find the setting: Verified Member? set the member to Verified.

Verified Message
After the admin has successfully verified the listing the following message will display
The text can be edited under Settings » Text Labels:
Verified Email
Once the admin verifies the member in the Actions >> Quick Edit menu, the admin can use the email template business-listing-verified to let the member know that the profile has been verified. This email can also be customized.
Custom Verified Badges
The verified badge can be personalized to fit the style of your site. To upload a custom badge, go to General Settings > Brand Images and upload the new icon here:
Verify URL
There is a setting to change the wording or language of the URL where members go to submit the Verify form:
The advanced setting is Member Verify URL
System Variable: default_verify_url
Portion of the URL that will display when a member is verifying their account in the Member Dashboard. By default is promote/verify.