DUKPTDerived Unique Key Per Transaction
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DES stands for Data Encryption Standard, and DUKPT stands for Derived Unique Key Per Transaction.
While standards currently exist for 3DES master key management and 3DES DUKPT (Derived Unique Key, Per Transaction) there is a lack of standards for session key management.
According to the spokesman, an extremely high level of security is assured by the terminal's ability to encrypt PIN codes using the DES algorithm in conjunction with DUKPT (derived unique key per transaction - a means of generating a new random encryption key for each payment).
Using the banking industry standard encryption algorithm DUKPT (Derived Unique Key Per Transaction), a key is injected securely into each card reader at manufacture.