Unable to create an order from Orders page for newly created merchants

Unable to create an order from 'Create Order' page

Steps:
1) Create a merchant
2) Create an order through 'Create Order' from Orders page
3) Select the Merchant Name that has been created in step 1 and input all the necessary details and 'Request Deploy'

Actual Result: Order does not get created but an error message is thrown which highlights incorrect/missing fields
"This order has incorrect and/or missing fields. Please correct the highlighted fields before continuing."

Expected Result: Order should be successfully created and deployed

Note:
1) This happens only for newly created merchants. Works fine for old merchants created before this release.
2) For old merchants, when Merchant Name is selected Merchant ID appears automatically. This does not happen for newly created merchants.