This works for me on both YouTube and Vimeo players.
I'm basically just resetting the src attribute, so be aware that the video will go back to the beginning.
var $theSource = $theArticleDiv.find('.views-field-field-video-1 iframe').attr('src');
$theArticleDiv.find('.views-field-field-video-1 iframe').attr('src', $theSource); //reset the video so it stops playing
$theArticleDiv is my current video's container - since I have multiple videos on the page, and they're being exposed via a Drupal view at runtime, I have no idea what their ids are going to be. So I've bound muy click event to a currently visible element, found its parent, and decided that's $theArticleDiv.
('.views-field-field-video-1 iframe') finds the current video's iframe for me - in particular the one that's visible right now.
That iframe has a src attribute. I just pick that up and reset it right back to what it already was, and automagically the video stops and goes back to the start.
If my users want to pause and resume, they can do it without closing the video, of course - but frankly if they do close the video, I feel they can live with the fact that it's reset to the start.
HTH