Signup Confirmation Emails

I’m looking for a clarification regarding the Signup Confirmation Email in “Paypal Options”

The section titled “Signup Confirmation Recipients” has the default shortcode:
“%%full_name%%” <%%payer_email%%>

Are the shortcodes using the “full_name” and “payer_email” based on those supplied in the wordpress registration form or from Paypal account name and email?