updated 03:05 pm EDT, Wed March 12, 2014
Change presumably meant to comply with FTC mandate
iOS 7.1 includes a warning about the 15-minute, password-free window after an initial in-app purchase in iOS, notes AppleInsider. The pop-up appears the first time a user tries to make an in-app purchase after installing v7.1, and points people to Settings if they want to undo the window. Under Restrictions, iOS can be set to require a password for every purchase, or block all in-app transactions.
The change appears to be at least a stopgap measure to respond to a Federal Trade Commission mandate. As part of its $32.5 million settlement with the FTC, Apple was ordered to fix App Store purchasing loopholes by March 31st. In the past the lack of password requirements has allowed some children to rack up hundreds or thousands of dollars on their parents' iTunes accounts, particularly in cases where game developers weren't explicit about whether an in-app transaction would cost real money. Many so-called "free-to-play" or "freemium" games in fact require paying money to make progress.