No, it's actually pretty much the selling point that Apple the phone manufacturer is also Apple the security chip manufacturer, Apple the OS development company, Apple the financial services company, and Apple the company that supplies the wallet app. This means that I only have to trust one entity to use Apple Pay to buy things with my phone. This largely collapses if Apple can't at the same time be a manufacturer of chips, a seller of phones, a developer of operating systems, a provider of applications, and a handler of financial transactions.