There are provided an apparatus and a method of managing short message service (SMS) messages related to the settlement of payments using a hand-held phone. The apparatus includes a message receiver, a settlement-related SMS message manager, and a message displayer. The message receiver receives and stores SMS messages. The settlement-related SMS message manager searches settlement-related SMS messages of the SMS messages based on attribute data of the SMS messages to create settlement-related statistical data. The message displayer displays the settlement-related statistical data to the outside. Users can conveniently manage data on payments to be settled and receives statistically analyzed settlement-related data as settlement-related SMS messages can be managed in a HHP.