To moderate pending users (Accept and Reject) please follow this steps:
1 - Login as admin into the front end and go to your user dashboard (mywebsite.com/page/dashboard).
2 - You will see the "Verify" link in the "Manage" block, click this link to go to manage the verified members administration (mywebsite.com/page/verify-administration). You can accept or reject the users in there.
Please let me know if you have any other question.