Unable to create merchant account in google play developer console

In order to enable In app purchase in my previously published app by uploading new apk, I'm trying to enable to merchant account for my developer account as informed by Google documentation on the same.

When 'Set up a merchant account' is clicked, the android-walk loading comes up for few seconds, followed by spinning ball & then the error.

Screen grabs :

Step : 1

Step : 2

P.S I strongly believe this is a right place to post this question. As there's tons of Google Play related questions here & there is no separate channel to ask developer console related questions in StackExchange. So if you can't answer this, please don't discourage others from doing so as this would be beneficial to many. Thank you.

Make sure the account you are trying to signup has been enabled for 'Google Payments' in case of Google apps account.

It is available at , Apps > additional google services.