Here's my solution for this (based on a comment above https://drupal.stackexchange.com/a/83460/31913):
function yourmodulename_form_commerce_checkout_form_review_alter(&$form, &$form_state, $form_id) {
$form['commerce_payment']['payment_method']['#type'] = 'markup';
}
All we need is to change type from 'radios' to 'markup' and this does the trick.
Hope this helps.
