diff --git a/CHANGELOG.md b/CHANGELOG.md
index a7fd65d..5b27bb7 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -8,6 +8,25 @@ and this project adheres to [Semantic Versioning](https://semver.org/).
 Releases prior to `1.0.0` were published before this changelog was added and
 are not documented here.
 
+## [1.2.0]
+
+### Added
+
+- `createPayment` creates a Payment on a Ledger. Pass an `ik`, a `ledgerIk`, and
+  a Payment `type`, along with optional `typeVersion` and `parameters`. It
+  returns the Payment's `clientSecret` and `status`. Payments are experimental,
+  so this API may change in a future release.
+
+### Changed
+
+- `typeVersion` on `LedgerEntryInput` is now supported and defaults to `1`. It
+  was previously reserved for an upcoming feature.
+- `PaymentStatus` now uses `needs_payment_method` instead of
+  `requires_confirmation`.
+- `SchemaPaymentEntryStatus` is now named `SchemaPaymentTypeStatus`, and
+  `SchemaPaymentEntryInput` now takes `needs_payment_method_to_processing`
+  instead of `needs_confirmation_to_processing`.
+
 ## [1.1.1]
 
 ### Added
diff --git a/pyproject.toml b/pyproject.toml
index d6bb19e..2e2f81e 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -5,7 +5,7 @@ target_package_name = "fragment_graphql_client"
 
 [tool.poetry]
 name = "fragment-python"
-version = "1.1.1"
+version = "1.2.0"
 description = "Python SDK for https://fragment.dev/"
 authors = ["Fragment Foundries Inc"]
 license = "Apache 2.0"