Shared Secret is required for consumable product to validate the receipt?

How can I validate the consumable IAP ? Is it a correct way to validate the consumable product ?

this.purchaseUpdateSubscription = purchaseUpdatedListener((purchase: ProductPurchase ) => {
      const receipt = purchase.transactionReceipt;
      if (receipt) {

        const receiptBody = {
          'receipt-data': purchase.transactionReceipt,
          'password': '************'
        };

        RNIap.validateReceiptIos(receiptBody, false)
            .then((deliveryResult) => {
              if (deliveryResult) {
                 //required stuff...
              }
        }
    }