Due to its low energy consumption and simplicity, near field communication (NFC) has been extensively used in various short-range transmission scenarios, for example, proximity payment and NFC entrance guard. However, the low data rate of NFC limits its application in high rate demanded scenarios, such as high-resolution fingerprint identification and streaming media transmission as well as the future promising high rate indoor communications among pads, phones, and laptops. In this paper, we model and analyze the performance of the orbital angular momentum based NFC (OAM-NFC) system, which can significantly increase the capacity of NFC. We first give the OAM system model. With coils circularly equipped at the transmitter and receiver, OAM-NFC signals can be transmitted, received, and detected. Then, we develop the OAM-NFC generation and detection schemes for NFC multiplexing transmission. We also analyze the OAM-NFC channel capacity and compare it with those of single-input-single-output (SISO) as well as multi-input-multi-output (MIMO) NFC. Simulation results validate the feasibility and capacity enhancement of our proposed OAM-NFC system. How different variables, such as the transceiver misalignment, the numbers of transceiver coils, and transceiver distance, impact the OAM-NFC capacity are also analyzed.