A system and method for establishing a pairwise temporal key (PTK) between two devices based on a shared master key and using a single message authentication codes (MAC) algorithm is disclosed. The devices use the shared master key to independently compute four MACs representing the desired PTK, a KCK, and a first and a second KMAC. The Responder sends its first KMAC to the Initiator, which retains the computed PTK only if it verifies that the received first KMAC equals its computed first KMAC and hence that the Responder indeed possesses the purportedly shared master key. The Initiator sends a third message including the second KMAC to the Responder. The Responder retains the computed PTK only if it has verified that the received second KMAC equals its computed second KMAC and hence that the Initiator indeed possesses the purportedly shared master key.