Add membership feature to Wordpress website

We already have a simple Wordpress website but we want to add a feature for creating new signups so that they can become a member. When the user creates a new account it will fill up a form and agree terms and conditions. The user must click on the checkbox and sign his name in a textbox indicating he has agreed to the terms & conditions for membership. Users can create an account but all new account creations needs to be approved by Admin. To prevent fake creations, the user must confirm his creation via email before his application is sent to admin for approval. Once the user obtains approval to become a member, he can fill up a more detailed form (e.g. address, phone number, less than 10 fields), upload identification documents and make certain choices. The form is relatively straightforward. There is also a function where he can set up certain recurring payments for his subscription. We require payment processing using at least Paypal and Credit Cards. Contents of the website will be provided. We are already using Wordpress so we prefer Wordpress solution. If not a ASP.NET solution as we are familiar with ASP.NET