Method and system for transaction of electronic money with a mobile communication unit as an electronic wallet

An electronic money management method and system using a mobile phone is provided, which can be applied to electronic transactions. Upon receiving a request regarding electric money such as issuance, recharging, transfer, or balance checking, together with a mobile phone number and a password, from a user, an ARS server, an electronic money management web server, or an mobile communication service system transmits an authentication number to the user's mobile phone, compares the transmitted authentication number with one received from the user, and transmits the password and phone number to make the request if the authentication numbers are identical. The electronic money management server fulfills the request regarding electronic money, received from the one server or system, for an electronic money account identified by the password and mobile phone number, and transmits the fulfilled result and the account balance to the mobile phone through the one server or system.