A multiple-electrode-type electronic paper film can implement a single color and control the transparency, as it has multiple electrodes in one cell. Therefore, it can be used as a transparent display. In this paper, we explain the structure and driving method of a transparent electronic paper display, and then propose a control method of transmittance. Subsequently, we verify the theory by measuring the transmittance via experiment. Thus, by changing the manner of applying the voltage to three lower electrodes and one upper electrode, transmittance in eight cases could be realized. It was confirmed that the transmittance derived from the experiment could be controlled from a minimum of 6.75% to a maximum of 71.18%.