A service method and a system for managing a transaction using application properties are provided. The service system includes a cloud-based virtual object transaction manager. The virtual object transaction manager includes when a virtual object of an loT device is generated, an application program interface (API) registering unit configured to register an interface provided form the virtual object as an API format and an API use permission managing unit configured to manage use permission of an API according to each virtual object of an loT device registered on a cloud service.