The app utilizes the latest in audio compression technology, providing much better audio quality and more robust connectivity, the broadcaster said, allowing users to purchase tracks that are being played on the station instantly.
Users can interact directly with the station by texting to the NME Radio studio through the app.
Sammy Jacob, NME Radio managing and programming director, said: "This app is great news for the music industry, artists and audience alike as it allows for impulse purchase and download of tracks played on the station.
"It is, as far as I am aware, the first UK radio station app to have such facility. Apart from providing increased exposure to new and emerging artists, it will contribute to revenues. I believe stuff like this is essential to the future of the music industry."
The launch of the NME Radio iPhone app follows the station's launch on to the London Digital Audio Broadcasting network in May, adding to the station's existing broadcast platforms, including Sky, Virgin Media, Freesat and online at NME.com.
The app costs 59p in the Apple App Store.
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