In topology, we can talk about the "compactification" of a non-compact (roughly, either open or not bounded) by adding new points. And there are many different ways to do that- the two most important are the "Stone-Cech compactification" and the "one point compactification". The "Stone-Cech compactification" preserves as much of the topological properties as possible while the "one point compactification", well, just adds one point!
We can, for example, make the open interval, (a, b), compact by adding the two endpoints to get the closed interval, [a, b]- that's the "Stone-Cech compactification". Or we can imagine bending the interval into a circle, adding a single point connecting the two ends so that it now has the topology of a circle- That's the "one-point compactification". We can make the infinite line- all of R- compact by adding "-\infty" and "+\infty", redefining the metric so that the larger positive numbers are "closer" to +\infty and "larger" negative numbers closer to -\infty, the "Stone-Cech" compactification, or we can add a single point, \infty, redefining the metric so that all "larger" numbers, both positive and negative, are closer to \infty, the "one point" compactification.
In the plane, whether R2 or the complex plane (we are only talking about the the geometry, not the algebra), we can do the "Stone-Cech" compactification by adding a new "point at infinity" at the "ends" of all straight lines through the origin, forming and entire circle "at infinity", giving it the geometry of a disk, or do the "one point compactification" by adding a single "point at infinity", giving it the topology of a sphere. Because the first now involves adding an infinity of new points, we tend to prefer the second.
This also is equivalent to the "Riemann sphere". Imagine a sphere, of radius r, with center at (0, 0, r) so that it is "sitting" one the xy-plane at (0, 0, 0). For ever point, (x, y), in the xy-plane, draw a line from (0, 0, 2r) to (x, y, 0). The point where that line crosses the sphere is associated with the number x+ iy. The point (0, 0, 2r) becomes the single "point at infinity".