According to the frequently asked questions (FAQs) on their website, they have now mentioned verified business accounts.
Any business contact that has green badge next to the name is confirmed phone number of the respective business which can be contacted for queries or feedback.
Another indication to know whether a business account is verified is to spot a message with yellow background inside its chat which says ‘This business account has registered as a standard account’.
Verified business accounts can show their desired name to other accounts which they choose for themselves. WhatsApp will also allow users to block these business contacts if one wants to stop them from bothering.
Since verified business accounts are fairly new in the instant-messaging app’s features, they are only available in beta version with limited accounts of pilot project. It is expected that WhatsApp will soon launch the feature worldwide.