diff -u b/modules/payment/src/Plugin/Commerce/CheckoutPane/PaymentInformation.php b/modules/payment/src/Plugin/Commerce/CheckoutPane/PaymentInformation.php
--- b/modules/payment/src/Plugin/Commerce/CheckoutPane/PaymentInformation.php
+++ b/modules/payment/src/Plugin/Commerce/CheckoutPane/PaymentInformation.php
@@ -364,7 +364,7 @@
 
     $pane_form['#payment_options'] = [];
     $user_input = $form_state->getUserInput();
-    $add_new_payment_method = $user_input && !empty($user_input['payment_information']['add_new_payment_method']);
+    $add_new_payment_method_selected = $user_input && !empty($user_input['payment_information']['add_new_payment_method']);
 
     if ($stored_options = $this->paymentOptionsBuilder->buildStoredOptions($this->order, $payment_gateways)) {
       $stored_option_labels = array_map(function (PaymentOption $option) {
@@ -405,7 +405,7 @@
       // Fix order billing profile address in case when we select another
       // payment method and then refresh the checkout page.
       /** @var \Drupal\commerce_payment\entity\PaymentMethodInterface $default_stored_option */
-      if ($this->configuration['require_billing_information'] && $this->order->getBillingProfile() && !$add_new_payment_method) {
+      if ($this->configuration['require_billing_information'] && $this->order->getBillingProfile() && !$add_new_payment_method_selected) {
         /** @var \Drupal\commerce_payment\entity\PaymentMethodInterface $default_payment_method */
         $default_payment_method = $this->entityTypeManager->getStorage('commerce_payment_method')->load($default_stored_option->getId());
         /** @var \Drupal\profile\entity\Profile $default_payment_method_profile */
@@ -427,7 +427,7 @@
     $pane_form['add_new_payment_method'] = [
       '#type' => 'checkbox',
       '#title' => $this->t('Add new payment method'),
-      '#default_value' => $add_new_payment_method,
+      '#default_value' => empty($stored_options) || $add_new_payment_method_selected,
       '#access' => !empty($stored_options),
       '#weight' => 0,
       '#ajax' => [
@@ -649,6 +649,16 @@
     }
     /** @var \Drupal\commerce_payment\PaymentGatewayStorageInterface $payment_gateway_storage */
     $payment_gateway_storage = $this->entityTypeManager->getStorage('commerce_payment_gateway');
+
+    if ($this->configuration['require_billing_information'] &&
+      is_null($selected_option) &&
+      $form_state->has('billing_profile')
+    ) {
+      $this->order->setBillingProfile($form_state->get('billing_profile'));
+      $this->order->save();
+      return;
+    }
+
     /** @var \Drupal\commerce_payment\Entity\PaymentGatewayInterface $payment_gateway */
     $payment_gateway = $payment_gateway_storage->load($selected_option->getPaymentGatewayId());
     if (!$payment_gateway) {
@@ -671,7 +681,7 @@
           if (is_numeric($selected_address)) {
             $selected_address_profile = $this->entityTypeManager->getStorage('profile')->load($selected_address);
             $order_billing_profile->populateFromProfile($selected_address_profile);
-            $order_billing_profile->populateFromProfile($selected_address_profile, ['data']);
+            $order_billing_profile->setData('address_book_profile_id', $selected_address_profile->id());
             $order_billing_profile->save();
             $this->order->save();
           }
@@ -758,7 +768,6 @@
         /** @var \Drupal\commerce\Plugin\Commerce\InlineForm\EntityInlineFormInterface $inline_form */
         $inline_form = $pane_form['add_payment_method']['#inline_form'];
         // The payment method was just created.
-        /** @var PaymentMethodInterface $payment_method */
         $payment_method = $inline_form->getEntity();
         if ($form_state->has('billing_profile') && $payment_gateway_plugin->collectsBillingInformation()) {
           $payment_method->setBillingProfile($form_state->get('billing_profile'));
@@ -795,24 +804,7 @@
       $this->order->set('payment_gateway', $payment_gateway);
       $this->order->set('payment_method', NULL);
       if ($form_state->has('billing_profile')) {
-
-        $payment_method_profile = $form_state->get('billing_profile');
-        if ($payment_method_profile) {
-          $order_billing_profile = $this->order->getBillingProfile();
-          if (!$order_billing_profile) {
-            $order_billing_profile = $this->entityTypeManager->getStorage('profile')
-              ->create([
-                'type' => 'customer',
-                'uid' => 0,
-              ]);
-          }
-          $order_billing_profile->populateFromProfile($payment_method_profile);
-          // The data field is not copied by default but needs to be.
-          // For example, both profiles need to have an address_book_profile_id.
-          $order_billing_profile->populateFromProfile($payment_method_profile, ['data']);
-          $order_billing_profile->save();
-          $this->order->setBillingProfile($order_billing_profile);
-        }
+        $this->order->setBillingProfile($form_state->get('billing_profile'));
       }
     }
   }