WCFM (WooCommerce Frontend Manager) is the best and most popular frontend multivendor store/shop manager on WordPress, powered by WooCommerce.
This guide will help you to enable the OTP Verification for your WooCommerce Frontend Manager (WCFM) / Vendor Registration Form.
You can download the WCFM (WooCommerce Frontend Manager) Plugin by clicking here.
Yes, it is possible to customize both the Email and SMS OTP Message that goes out to your users. The steps vary depending on the plan you are on.