The present invention relates to a system and a method for authenticating an electronic money using a smart card and a communication terminal. The present invention provides a system and a method for authenticating an electronic money, wherein the system comprises a smart card and a communication terminal. The smart card takes biometric signature from a user as an input, transmits recognition completion information to the communication terminal when the biometric signature inputted by the user matches the stored biometric signature, receives an update command from the communication terminal, updates the amount of stored balance data, and transmits an update completion message to the communication terminal. The communication terminal is connected to the smart card in a wired or wireless manner, and transmits the update command to the smart card upon receipt of the recognition completion information.