Mobile Notifications, how does it launch the Application?

I’ve just started using the unity Mobile Notifications package.
https://docs.unity3d.com/Packages/com.unity.mobile.notifications@1.4/manual/index.html

I’m curious as to how it knows which application to open? Is it doing this via the bundle id?

It uses the activity class.
You can configure activity class in settings, otherwise Unity figures out the activity.