Is there any way to validate custom credit card form before processing checkout?

Hi,
I am using jQuery Payment that comes bundled with WooCommerce to format and validate fields. The formatting works, but not the validation. Here’s the code I am using in my js file.

jQuery(document).ready(function($) {
	// Format Card Number, Expiry Date and CVV
	$('#pld-ccnum').payment('formatCardNumber');
    $('#pld-ccexp').payment('formatCardExpiry');
    $('#pld-cvv').payment('formatCardCVC');

	// Validate fields before submitting the checkout form
	$( 'form.checkout' ).on( 'checkout_place_order', function() {
		var valid = $.payment.validateCardNumber($("#pld-ccnum").val());
		if (!valid) {
			event.preventDefault();
			event.stopPropagation();
			$("#pld-ccnum").focus().css({"border-color":"#e54747"});
			return false;
		}
	});
});

I also tried

$( 'form.checkout' ).submit( function() {
but that didn’t worked either. What I am missing?

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