Here’s how you can prevent in-app purchases on an iPhone.
Go to Settings / Screen Time / Content & Privacy Restrictions.


Tap the Content & Privacy Restrictions button to enable it.
Then, on the same screen, continue to iTunes & App Store Purchases / In-App Purchases.


Select the Don’t allow option.

That’s it!
Note: This guide is done on an iPhone with iOS version 13 as of March 2020, but it should work the same or similarly with earlier or later versions, too.
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