In today’s world of paradigm device computing, device communication plays an important role in the secure transmission of data. Data security is directly linked between devices without an intermediate node. Since the devices are battery-driven and are located in a different geographical area, it is very important to ensure secure communication. Considering 5G IOT based environment as one of the use cases for D2D Communication, to address security challenges in this kind of environment, it is essential to develop a lightweight security system to ensure confidentiality and data origin authentication. In this paper, we proposed a lightweight cryptographic technique capable of providing a solution for enhanced data security along with data origin authentication. The proposed method uses a standard Blowfish algorithm to derive a 128-bit secret key, a secure hash algorithm (SHA1) to generate two separate secret keys in which one specific derived key is used for data confidentiality and another for data origin authentication. The hash-based message authentication code (HMAC) algorithm is used to generate an integrity tag. Derived keys are generated using randomly selected secret key characters and random numbers. Experimental results show that the proposed scheme consumes low computational power while drifting keys, enhancing data security and resistance against key guessing attacks.