Justin Cooke, from the British Interactive Media Association, told ITV News that the games industry did not need more regulation and that self-regulation was working.
"No doubt, there needs to be some changes to reflect the massive change going on in our industry," he said.
"Things like, for example, putting in place instant notification of payments being made through in-app."
"I think parents need to take some responsibility in the same way that I wouldn't give my kids the PIN number for my credit card," he added.
More top news
A memorial service has been held at Birmingham Cathedral to remember the victims of the Birmingham pub bombings 40 years ago tonight.
One of the world richest and most influential philanthropists has told ITV News that governments failed to act fast enough over Ebola.
Chewing gum manufacturers must help pay the multimillion-pound bill for cleaning up discarded pieces, councils have said.