The paper presents a matrix-based bit permutation technique (MBBPT) for symmetric key cryptography aimed at enhancing network security through a new encryption algorithm. This technique processes plaintext as a binary bit stream, generating a session key for encryption and decryption by rearranging bits across a square matrix. The results show that MBBPT performs favorably in terms of encryption and decryption times compared to traditional methods like TDES and AES, while providing comparable security characteristics.