Setting Up IAP - Please Enter Key In Valid Format

I am trying to set up IAPs for my project. to do this, Options requests a key. It tells me to find it in the Google Play Developer Console, in my appropriate project, under “Services and APIs”. No such place exists in my play store. Instead I go to “Monetization Setup” and grab the licensing key, which I assume is the correct one (google play must have reworked their UI). However when I try to copy paste and submit, I get an error saying “Please Enter Key In Valid Format”. How can I fix this?

Select the “Go to Dashboard” option at the to right corner in the services tab. Confirm any terms and conditions if asked to. Refresh the page and now click verify. It will work now.