Redcompra is a brand run by Transbank S.A. The company was established in Santiago in August 1989. Eight Chilean banks joined forces to create Sociedad Interbancaria Administradora de Tarjetas de Crédito SA. This company later became known as Transbank. The bank started issuing the first Visa credit cards in 1990, with Mastercard cards becoming a new product a year later. Then, in 1995, the company offered the first debit card in the country through the Checkline brand.