FedNow is only allowing depository institutions to participate and layers on top of them. The base price for a transfer might five cents, but I'd expect the ban

FedNow is only allowing depository institutions to participate and layers on top of them. The base price for a transfer might five cents, but I'd expect the bank to charge a fee on top of that. And if this scenario is a customer paying at a store, either online or not, there's almost certainly going to be another middle man (or multiple) between the merchant and the depository institution. Each of which will have its own set of fees, and one of which is likely to be a % of the transaction. Basically you get a similar cost.